Stocks gained more than 1 percent in early trading on Tuesday, recovering from a brief negative turn in a volatile session.
Following Wall Street's nosedive Monday, nervous investors awaited a statement from the Federal Reserve later on Tuesday on its outlook on the economy.
The Dow Jones industrial average gained 133.58 points, or 1.24 percent, to 10,943.43. The Standard & Poor's 500 Index gained 17.49 points, or 1.56 percent, to 1,136.95. The Nasdaq Composite Index gained 39.98 points, or 1.70 percent, to 2,397.67.