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Global markets stabilize a day after a plunge in China; US opens higher on earnings gains

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NEW YORK — U.S. stocks are opening higher after UPS, Ford and other big companies reported earnings gains and as markets in China and Europe stabilized.

The Dow Jones industrial average was up 45 points, or 0.3 percent, to 17,485 as of 9:35 a.m. Eastern time Tuesday.

The Standard & Poor's 500 index rose nine points, or 0.4 percent, to 2,076. The Nasdaq composite increased 13 points, or 0.3 percent, to 5,054.

Asian markets closed with modest losses a day after the Shanghai stock index plunged more than 8 percent, its worst fall since 2007.

European markets were mostly higher.

As stock markets calmed, investors moved money out of safe-play assets like bonds.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.26 percent.

PHOTO: An employee walks by the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the Korea Exchange Bank headquarters in Seoul, South Korea, Tuesday, July 28, 2015. Shanghai stocks were volatile Tuesday after falling the most in eight years the day before while other Asian markets also flitted between gains and losses. (AP Photo/Lee Jin-man)
An employee walks by the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the Korea Exchange Bank headquarters in Seoul, South Korea, Tuesday, July 28, 2015. Shanghai stocks were volatile Tuesday after falling the most in eight years the day before while other Asian markets also flitted between gains and losses. (AP Photo/Lee Jin-man)

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PHOTO: A currency trader works near the screen showing the Korea Composite Stock Price Index (KOSPI), right, at the foreign exchange dealing room of the Korea Exchange Bank headquarters in Seoul, South Korea, Tuesday, July 28, 2015. Shanghai stocks were volatile Tuesday after falling the most in eight years the day before while other Asian markets also flitted between gains and losses. (AP Photo/Lee Jin-man)
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