US stocks rose yesterday, recovering some of the heavy losses suffered the day before, due to lower oil prices and a perception among investors that many traditional manufacturing companies had fallen so far they were attractively valued.

However, Procter & Gamble, which triggered the slide on Tuesday by issuing a profits warning, didn't get an immediate pardon from the market, falling again. The company has now lost around a third of its value in two days.

The Dow Jones gained 60.50, or 0.62 per cent, to 9,856.53, after dropping 374.47 on Tuesday, its fourth-biggest point loss ever.

The broader Standard & Poor 500 index gained 11.08, or 0.82 per cent, to 1,366.70. The technology-laden Nasdaq, which earlier had slipped by as much as 125 points, ended up 49.33, or 1.02 per cent, at 4,897.17.