U.S. stocks were gaining after Time Warner (TWX) rejected an $80 billion buyout offer from 21st Century Fox (FOXA), and Intel (INTC) jumped after earnings beat Wall Street forecasts. The chipmaker also announced a buyback plan and Apple (AAPL) entered into a deal with longtime rival IBM (IBM) to create business apps for corporate customers. Blackberry (BBRY) dropped on the news investors didn't take the news. In Washington, Federal Reserve Chair Janet Yellen testified for a second day before Congress. TheStreet's Susannah Lee reports from Wall Street.
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How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.