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U.S. stocks open higher amid oil rebound, data

Xinhua, April 26, 2016 Adjust font size:

U.S. stocks opened higher on Tuesday, as investors assessed gains in oil prices and the newly-released economic data.

Oil traded higher in the early trading Tuesday, with West Texas Intermediate up more than 1.5 percent above 43 U.S. dollars a barrel.

On the economic front, new orders for manufactured durable goods in March increased 1.8 billion dollars or 0.8 percent to 230.7 billion dollars, according to the U.S. Labor Department Tuesday.

The S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, showed that the 10-City Composite gained 5.01 percent year over year in February, while the 20-City Composite added 5.67 percent.

The Federal Open Market Committee will announce its latest rate decision when it concludes a two-day meeting on Wednesday.

The U.S. central bank is widely expected to leave interest rates unchanged after a mixed bag of economic data and recent volatility in financial markets.

Investors will look into the statement for indications on the potential for a hike at the June meeting.

Shortly after the opening bell, the Dow Jones Industrial Average rose 31.40 points, or 0.17 percent, to 18,008.64. The S&P 500 gained 3.76 points, or 0.18 percent, to 2,091.55. The Nasdaq Composite Index was up 4.02 points, or 0.08 percent, to 4,899.81. Endi