US stocks open higher as market shakes off three-day slump; Micron Technologies leads gainers

U.S. stocks are opening higher as the market shakes off a three-day slump.

The Dow Jones industrial average was up 109 points, or 0.7 per cent, to 16,430 as of 9:38 a.m. Eastern time Tuesday.

The Standard & Poor’s 500 rose 14 points, or 0.8 per cent, to 1,889. The Nasdaq composite rose 36 points, or 0.9 per cent, to 4,250.

The stock market is coming off a three-day slump. The Dow closed 222 points lower on Monday after a late-afternoon slide. The Dow is down 1 per cent for the year, and the S&P 500 index is up 2 per cent.

Micron Technologies rose 5 per cent, the most in the S&P 500.

Crude oil fell $1.02 to $84.70 a barrel.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.21 per cent.