"Turnaround Tuesday" saw world stocks rally and on Wall Street, traders were met with a sea of green, rather than the recent red
The Dow Jones closed a whopping 589 points down at 15, 871 on Monday, but at the time of writing, was 381 points to the good at 16,224.
The tech heavy Nasdaq added 140 points to 4,665, while the S&P500 gained 47 at 1,940.
In London, City watchers were also welcoming the change of directiom, with Footsie up 160 points and back above the 6,000 level.
It comes after The People’s Bank of China cut its main interest rate from 4.85% to 4.6%, in a bid to shore up confidence.
In economic data, US house prices rose in June, another sign of health in the housing and wider economy.
Despite the Asian market chaos, analysts stateside still reckon there could be a Fed rate rise this September, particularly if the Chinese situation eases.
In corporate news, electronics retailer Best Buy (NYSE:BBY) shares added over 13% to US$33.23 AS its quarterly numbers beat estimates.
DSW (NYSE:DSW) went 8.10% lower to US$28.32 as it matched estimates with quarterly profit of 42 cents a share but revenues failed to meet analysts' expectations.
Tech super power Apple (NASDAQ:AAPL) was also in the news again and saw shares add 4.49% as shares were upgraded to "outperform" from "market perform".
Bank of Montreal (TSE:BMO), Canada's fourth-largest bank, shares gained 5% as it reported better-than-estimated profit in its fiscal third quarter, helped by gains in consumer banking and wealth management.
Net income rose to C$1.19bn, or C$1.80 per share, in the quarter ended July 31, compared with C$1.13bn, or C$1.67 per share, a year earlier, the Toronto, Ontario-based company said.
High-end house builder Toll Brothers (NYSE:TOL) reported a slide in profits and revenue in its third quarter, but said the US housing recovery was built on a 'solid foundation'. Shares lost 0.5% to US$37.90.
For the three months to end July, pre-tax income was US107.5 million, compared to US151.3 million in the same period last year, on revenues, which went 2.7% lower to US$1.03 billion.