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US stocks bounce as Turkish lira rises
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A pedestrian walks past an electronic board showing the share prices of the Tokyo Stock Exchange (L) and the foreign exchange rate between the yen and the US dollar (R) in Tokyo on August 13, 2018. Tokyo stocks opened lower on August 13 as investors watched tension between the US and Turkey that has driven down the lira, fanning fears of possible wider financial instability.
(AFP/Kazuhiro NOGI )
Wall Street stocks gained early Tuesday as a bounce in the embattled Turkish currency tempered worries about emerging economies.
About 10 minutes into trading, the Dow Jones Industrial Average was up 0.2 percent at 25,248.29.
The broad-based S&P 500 and tech-rich Nasdaq Composite Index both gained 0.3 percent, with the S&P at 2,831.47 and the Nasdaq at 7,845.85.
The Turkish lira partially recovered after two days of sharp declines amid a diplomatic spat between the US and Turkey, which sparked worries about emerging economies in general.
Shares of Home Depot dipped 0.7 percent as it raised its full-year forecast following better-than-expected earnings. Net earnings jumped 31.2 percent to $3.5 billion.
Tesla Motors was little changed after announcing that its board had appointed a special committee to formally consider Chief Executive Elon Musk's proposal to take the company private.
