Stocks ended firmly higher on Tuesday, with the S&P 500 rising just under 1% and bounceback in megacap tech stocks adding 1.45% to the Nasdaq, as risk sentiment improved heading into the start of the third quarter earnings season, Treasury yields edged modestly lower and oil prices recorded a sharp session pullback.

Shares in China have slumped as details of economic stimulus plans from officials in Beijing failed to meet investors' expectations, while other markets in Asia are higher

China's stock markets roared back from a week-long break to reach their highest levels in more than two years at the open, before paring gains after officials failed to inspire confidence in stimulus plans intended to revive the economy.