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Market Pulse: Stocks open higher, attempt bounce after retail sales data

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Major stock indexes jumped early Tuesday, attempting to bounce after a mostly lower start to the week that extended a painful selloff for U.S. equities.

The Dow Jones Industrial Average
DJIA,
+0.89%

was up 367 points, or 1.1%, while the S&P 500
SPX,
+1.37%

gained 1.4%. The Nasdaq Composite
COMP,
+2.20%

jumped 2%.

U.S. retail sales data may help to cool recession fears somewhat, rising 0.9% in April, slightly below the 1% advance forecast by economists surveyed by The Wall Street Journal. Auto dealers led the way but most major retail categories posted gains. The increase in sales in March, meanwhile, was raised to 1.4% from an original 0.7%.

Investors will be paying close attention to remarks by Federal Reserve Chairman Jerome Powell, who is scheduled to speak at 2 p.m. A number of regional Fed presidents were also slated to speak Tuesday.

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