Stocks are rebounding

Stocks are rebounding after two days of weakness.

Shortly after the market open, the Dow gained as many as 90 points, while the S&P 500 was up 10 points, and the Nasdaq rose 26 points.

The Nasdaq closed down 2.2% on Tuesday, and the Dow lost 295 points, or 1.8%.

Crude oil is also up, after its worst two-day decline since 2011. West Texas Intermediate crude futures in New York rose 3% to as high as $30.95 per barrel. Weekly inventory numbers will be released by the Energy Information Administration later this morning.

In economic data, ADP private payrolls beat expectations, coming in at 205,000 for January.

Readings on the services sector from Markit and ISM are also due this morning.

More to come …

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