U.S. equity markets opened higher on Tuesday, rebounding from a major selloff in the previous session, as investors looked past the continued spreading of the coronavirus outbreak in China.

The Dow Jones Industrial Average was higher by 100 points, or 0.4 percent, in the opening minutes of trading as it looked to put an end to its five-day skid. The S&P 500 and Nasdaq Composite have both fallen for two straight sessions. All three of the major averages fell by at least 1.6 percent on Monday.

China said on Tuesday that were 4,515 confirmed cases of the virus. Almost all of the 106 deaths have been in Hubei province, where the outbreak began.

Airlines, cruise operators and casinos snapped back after suffering steep losses on Monday while drugmakers and medical mask makers gave up a portion of their recent gains.

Earnings continued to roll out with Dow components United Technologies, 3M and Pfizer all reporting ahead of the opening bell.

United Technologies reported sales rose 16 percent year over year in 2019 to a record of $77 billion.

3M’s fourth-quarter earnings fell short of Wall Street estimates and the conglomerate forecast 2020 profit below expectations due to weaker demand from China.

Pfizer revenue slumped after the drugmaker lost exclusivity for its pain drug Lyrica, pushing sales in its Upjohn unit, which also includes Viagra, down by 32 percent to $2.16 billion. Read more at FOX Business