Wall Street opens with positive gains
Anxious investors slammed the stock market Monday, the first trading day after Standard and Poor's downgraded U.S. credit. (Aug. 8, 2011) Credit: AP
U.S. stocks are rising in early trading, a day after their worst drop since 2008.
The Federal Reserve meets Tuesday and traders are speculating that it may announce more help for the economy, which has stumbled this year.
Stocks plummeted around the world Monday on worries about the economy, the first-ever downgrade of the U.S. credit rating and debt problems in Europe.
Paul Dales, senior U.S. economist with Capital Economics, says before the recent turmoil, his firm had thought the Fed would stand pat. But he says now some action seems likely.
The Dow Jones industrial average is up 55 points, or 0.5 percent, at 10,864. The S&P 500 is up 7, or 0.6 percent, to 1,127. The Nasdaq is up 15, or 0.6 percent, to 2,373.
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