Nasdaq Cues Up Outsized Gain Of More Than 1% As Stocks Rebound

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Stock market turns positive in morning action amid report on delay on auto tariffs

The stock market turned positive in early trade Wednesday, amid investors' focus on trade developments between the U.S. and its global counterparts. Most recently, the S&P 500 index was up 0.3% at 2,843, after hitting a low at 2,815 at the open, while the Nasdaq Composite index was up 0.7% at 7,788, from an intraday nadir at 7,682. The Dow Jones Industrial Average , meanwhile, was up 12 points, or less than 0.1%, at 25,540, but had been down by as many as 160 points at the start of the day's action. The mini turnaround for stocks came amid reports from Bloomberg News and CNBC about a possible six-month delay in the implementation of tariffs on European automobiles. The White House's deadline to decide on the tariffs had been May 18. Separately, Treasury Secretary Steven Mnuchin, speaking Wednesday at a Senate Appropriations hearing, said that he expects to go to Beijing to continue trade talks with the Chinese "at some point in the near future."