US stocks trade mixed while Chinese markets rebound on easing COVID-19 fears

• US stocks opened mixed on Tuesday while markets in China jumped as COVID-19 fears eased.
• The Shanghai Composite Index climbed 2.3% and Hong Kong's Hang Seng Index jumped 5.2% after diving on Monday.

US stocks were mixed on Tuesday, while markets in China rallied after major protests against stringent zero-COVID restrictions sparked a big decline on Monday.

The Shanghai Composite Index climbed 2.3% and Hong Kong's Hang Seng Index jumped 5.2%. On Tuesday, China reported lower COVID infections and touted an increase in vaccinations.

Health officials in Beijing also seemingly acknowledged the adverse effects of zero-COVID policies and pledged to "reduce inconvenience" facing the public while moving to lift restrictions as soon as the current outbreak is under control.

Here's where US indexes stood as the market opened at 9:30 a.m. on Tuesday:

• S&P 500: 3,962.69, down 0.03%
• Dow Jones Industrial Average: 33,783.00, down 0.20% (66.46 points)
• Nasdaq Composite: 11,058.05, up 0.08%

Here's what else is happening:

• The European Union effort to cap Russian oil prices is stalling as Poland demands a $30-per-barrel limit.
• Bankrupt crypto firm BlockFi is suing Sam Bankman-Fried to hand over shares of Robinhood.
• Credit Suisse analysts cautioned that inflation will remain above central banks' targets next year.

In commodities, bonds, and crypto:

• Oil prices climbed, with West Texas Intermediate up 1.68% to $78.55 a barrel. Brent crude, the international benchmark, gained 1.81% to $84.69 a barrel.
• Gold was higher, adding 0.62% to $1,751.85 an ounce.
• The 10-year yield ticked up 2.2 basis points to her to 3.724%.
• Bitcoin fell 0.33% to $16,431.65.