US stocks recovered Wednesday as a scarcity of profit warnings fueled optimism over the corporate reporting season, investors were also looking for buying opportunities after the previous session's sharp drop.


On Wednesday, The Dow Jones Industrials gained 76 points closing at 13,578; the S&P500 was up 9 points rising to 1,519, and the Nasdaq added 13 points finishing at 2,652.

In company news, shares in Chaparral Steel were up 10.54% to $83.67 on the Nasdaq Wednesday. The jump came after Brazil's Gerdau Ameristeel agreed to acquire the steelmakers for $4.22 billion. Chaparral also reported quarterly profit rose close to 30 per cent, partly because of demand for new industrial production capacity.