Stock market showing signs of recovery at open on Tuesday

The Dow gained more than 850 points as the bell rang Tuesday morning – signaling investors' moods are improving after positive signals from Asian and European markets, as well as President Trump's announcement that he is working with Congress on a plan to mitigate the coronavirus' impact on fluctuating markets.

Prior to the U.S. markets opening, U.S. equity futures were trading up about 4% – indicating a strong start for Wall Street. Oil prices are also recovering some of yesterday's losses.

European markets are trading about 4% up as well, and Asian markets closed high.  

Trump said Monday evening that he will be meeting with the House and Senate Republicans to discuss a payroll tax cut and a "substantial relief" plan to assist hourly workers amid stock market shock stemming from global coronavirus panic and the developing oil pricing war between Russia and Saudi Arabia. 

"We're going to be talking about hourly wage earners getting help so that they can be in a position where they're not going to ever miss a paycheck," the president said. 

Trump is scheduled to hold a press conference Tuesday afternoon to provide some specific details on his proposed, targeted economic measures. 

"Everything in on the table," said Senate Finance Committee Chairman Chuck Grassley (R.-Iowa) about plan options to help stimulate the economy. 

Monday saw stocks hit their largest one-day percent decline since 2008.