U.S. stocks open higher as oil rebounds
Xinhua, December 29, 2015 Adjust font size:
U.S. stocks opened higher on Tuesday as oil prices bounced back from previous day's sharp decline.
In a light week of economic reports, Wall Street focused on the volatility in oil prices.
Oil prices traded over 2 percent higher in the early trading on Tuesday, but remained under pressure from the global supply glut.
On Monday, oil prices tumbled again after last weeks' strong rebound, with both the U.S. oil and Brent crude diving over 3 percent, as excess supply dampened market sentiment.
On the economic front, the S&P/Case-Shiller U.S. National Home Price Index recorded a slightly higher year-over-year gain with a 5.2-percent annual increase in October versus a 4.9-percent increase in September.
The U.S. stock markets will be closed on Friday for New Year's Day.
Shortly after the opening bell, the Dow Jones Industrial Average added 88.68 points, or 0.51 percent, to 17,616.95. The S&P 500 gained 9.53 points, or 0.46 percent, to 2,066.03. The Nasdaq Composite Index was up 25.04 points, or 0.50 percent, to 5,066.02.
On Monday, U.S. stocks ticked down as a renewed decline in oil prices weighed on Wall Street. Endi