Stocks bounce higher on Wall Street a day after big rout

New York- Stocks are opening higher on Wall Street a day after major indexes fell more than 5 per cent for their biggest drops since mid-March.

The S&P 500 rose 2.6 per cent in the first few minutes of trading Friday, but is still on track for a weekly loss following three weeks of solid gains.

Small-company stocks and bond yields rose, both signs that pessimism about the economy's future growth was easing.

The steep drops Thursday came after weeks of market experts warning that a red-hot comeback for the market since late March has been overdone. European markets also rose, but Asian markets ended broadly lower.

(AP)