U.S. stocks opened up almost 1 percent on Wednesday, rebounding from steep losses a day earlier, after fresh intervention from China to support its markets helped calm jittery investors and oil prices reversed course to trade higher.

The Dow Jones industrial average .DJI rose 154.47 points, or 0.96 percent, to 16,212.82, the S&P 500 .SPX gained 18.62 points, or 0.97 percent, to 1,932.47 and the Nasdaq composite .IXIC added 64.45 points, or 1.39 percent, to 4,700.56.