U.S. stocks rise at midday after big losses Monday


Trader Steven Grasso, left, looks over the shoulder of specialist Anthony Matesic on the floor of the New York Stock Exchange Tuesday, Feb. 4, 2014. Stocks are mixed on Wall Street after suffering big losses the day before. (AP Photo/Richard Drew)


NEW YORK -- U.S. stocks are rising as investors take the opportunity to buy back into the market a day after it suffered its biggest loss in more than seven months.

The Dow Jones industrial average rose 81 points, or 0.5 percent, to 15,453 at 11:53 a.m. today. The Standard & Poor’s 500 index climbed 12 points, or 0.7 percent, to 1,754. The Nasdaq composite gained 38 points, or 1 percent, to 4,035.

The market is creeping back from a 326-point drop in the Dow on Monday after disappointing news about U.S. manufacturing.

Michael Kors jumped $14.08, or 18 percent, to $90.75 after the fashion retailer reported stronger earnings. Microsoft rose 14 cents, or 0.4 percent, to $36.62 after it named Satya Nadella as its new CEO.