Wall Street Quiet Even As Chinese Stocks Plunge

Stocks opened higher on Wall Street as investors look to add to Wednesday's strong positive reversal. Overnight, the Shanghai composite plunged -6.4% and hit a three-week low. Rumors spread that China's central bank injected another $52 billion into the money market to help stabilize markets. The ChiNext index which tracks small-cap Chinese stocks tanked -7.7% which clearly is not good for the global risk-on trade.