Markets extend comeback after week of retreat

Markets on Tuesday extended a rebound begun Monday following a dramatic and tumultuous retreat last week.

The Dow Jones Industrial Average opened up 200 points, or 0.7 percent, on Tuesday, and the S&P 500 opened up 30 points, or 0.9 percent.

The rebound was led by increases in technology stocks, which have largely blazed the trails for the markets since the coronavirus pandemic took hold. A retreat in those stock prices amid fears that they had become overvalued dragged down the market last week.

An index of manufacturing in New York, the Empire State Manufacturing Index, also rose to 17 in September, a 13-point increase, giving economists a boost of hope for the broader economy.

Economists had expected a reading of only 6.