U.S. stocks open higher ahead of ECB' s decision

U.S. stocks opened higher on Tuesday, the first trading day for December, as investors awaited major central banks' decisions later this month.

Shortly after the opening bell, the Dow Jones Industrial Average gained 66.68 points, or 0.38 percent, to 17,786.60. The S&P 500 rose 9.28 points, or 0.45 percent, to 2,089.69. The Nasdaq Composite Index was up 18.05 points, or 0.35 percent, to 5,126.72.

The European Central Bank (ECB) is expected to expand its easing program and cut its negative deposit rate further on Thursday.

Meanwhile, investors were looking to this Friday, which will bring the key November employment data, the last jobs report for the year, before the Federal Reserve decides on interest rates at its December meeting.

Wall Street expected an historic divergence in monetary policy by two central banks as the Fed was on track for an interest-rate hike this year while its European counterparts was expected to unleash further stimulus.

The International Monetary Fund (IMF) executive board has decided to include the Chinese currency, the yuan, to its Special Drawing Rights (SDR) basket on Monday, marking a milestone in the renminbi (RMB) global march and a vote of confidence in China's ongoing financial reforms.

"The goal is to allow China to transact more business in yuan, allowing a further liberalization of Chinese markets," said Chris Low, chief economist at FTN Financial on Tuesday.

Analysts said such move would elevate the renminbi and China' s influence in the global economy.

Chinese shares continued to rise on Tuesday as the benchmark Shanghai Composite Index went up 0.32 percent to close at 3,456.31 points.

U.S. stocks ticked down Monday, the last trading day for November, as investors awaited a key jobs report released later this week. Endite