(CNBC) — U.S. stocks closed higher Tuesday, recovering slightly from a sharply lower start to the year and shaking off pressure from an intraday dip in oil below $30 a barrel.
Stabilization in the Chinese yuan overnight and oil's initial attempt at gains helped stocks rise more than 1 percent in the open.
The Dow Jones industrial average held more than 100 points higher in afternoon trade. Earlier, the index struggled to hold opening gains of 192.78 points as declines in oil weighed. The S&P 500 traded more than half a percent higher after earlier falling into negative territory.
Advertisement - story continues below