Stocks are rising at the open on signs of resilience in Europe’s debt markets and an encouraging report on growth in China.
Debt auctions by Spain, Greece and Europe’s bailout fund drew solid interest from investors Tuesday, easing fears that recent credit-rating downgrades would prevent troubled nations from obtaining funds. Many had feared the downgrades would increase borrowing costs and intensify the region’s debt crisis.
The Chinese government said earlier that its economy slowed less in the fourth quarter than originally predicted.
The Dow Jones industrial average is up 104 points, or 0.8 percent, at 12,525 in the first few minutes of trading. The S&P 500 index is up 11, or 0.9 percent, at 1,300. The Nasdaq composite index is up 25, or 0.9 percent, at 2,735.