U.S. stocks rally amid data, retail earnings

U.S. stocks moved higher in morning trading on Tuesday, as investors were digesting a batch of economic data and corporate earnings report.

At midday, the Dow Jones Industrial Average gained 86.32 points, or 0.49 percent, to 17,569.33. The S&P 500 was up 9.89 points, or 0.48 percent, to 2,063.08. The Nasdaq Composite Index rose 30.69 points, or 0.62 percent, to 5,015.31.

The U.S. Consumer Price Index (CPI) for all urban consumers increased 0.2 percent in October on a seasonally adjusted basis, in line with market consensus, the Labor Department reported Tuesday.

The so-called core CPI, which strips out food and energy costs, edged up 0.2 percent in October, a similar increase as in September. The core CPI rose 1.9 percent over the past 12 months.

U.S. industrial production declined 0.2 percent in October after decreasing by the same margin in September, according to statistics from the Federal Reserve Tuesday.

Meanwhile, investors awaited the meeting minutes from the Federal Open Market Committee (FOMC) due out later this week. Traders will look for hints on the timing of interest rate hike from the U.S. central bank.

In corporate news, shares of Wal-Mart rose over 4 percent in the morning session after the retail giant reported quarterly profit that beat estimates.

The company's quarterly diluted earnings per share from continuing operations were 1.03 U.S. dollars, benefited by approximately 4 cents from an adjustment for certain leases.

U.S. stocks rebounded strongly on oil recovery Monday, following Friday's terror attacks in Paris, as investors believed its impact on markets was limited. Endit