Investing.com - U.S. stocks opened higher on Tuesday, after the recent release of weak U.S. economic reports dampened expectations for the Federal Reserve to scale back its stimulus program in the near future.
During early U.S. trade, the Dow Jones Industrial Average added 0.15%, the S&P 500 index edged up 0.24%, while the Nasdaq Composite index rose 0.25%.
Data on Tuesday showed that the U.S. trade deficit widened more-than-expected in April, rising 8.5% to USD40.3 billion.
The Commerce Department said U.S. imports rose 2.4% in April to USD227.7 billion, while exports increased 1.2% to USD187.4 billion.
Stocks found support on Monday after data showed that activity in the U.S. manufacturing sector contracted for the first time in six months in May.
The Institute for Supply Management said its index of purchasing managers fell to 49.0, the lowest level since June 2009 and below the 50 level that separates contraction from growth.
Microsoft added 0.25% amid reports Chief Executive Officer Steve Ballmer is planning a reorganization aimed at reducing the number of business units and putting more focus on devices and services.
In the same sector, Apple rose 0.30% on reports that the company is getting closer to unveiling its streaming radio service.
Among insurance companies American International Group, Prudential Financial and a unit of General Electric were identified by U.S. regulators as potential risks to the financial system, taking an additional step toward putting the firms under tighter government scrutiny.
AIG shares were up 0.94% despite the news, while Prudential Financial jumped 1.19%.
Elsewhere, FedEx, which is currently in the midst of a USD1.7 billion restructuring, gained 0.93% as it was reportedly planning to accelerate plans to park 86 fuel-guzzling older aircraft to further reduce operating costs.
Also in company news, News Corp. was up 0.86% as its Fox Broadcasting was said to be asking a federal appeals court to overrule a district judge and halt Dish Network's AutoHop ad-skipping service that it says threatens television’s advertising system.
On the downside, Dollar General plummeted 6.82% after the discount chain slashed the top end of its full-year earnings outlook, due to moderating sales growth and a lower gross profit rate.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.61%, France’s CAC 40 advanced 0.55%, Germany's DAX gained 0.47%, while Britain's FTSE 100 rose 0.47%.
During the Asian trading session, Hong Kong's Hang Seng Index inched 0.01% higher, while Japan’s Nikkei 225 Index surged 2.05%.
During early U.S. trade, the Dow Jones Industrial Average added 0.15%, the S&P 500 index edged up 0.24%, while the Nasdaq Composite index rose 0.25%.
Data on Tuesday showed that the U.S. trade deficit widened more-than-expected in April, rising 8.5% to USD40.3 billion.
The Commerce Department said U.S. imports rose 2.4% in April to USD227.7 billion, while exports increased 1.2% to USD187.4 billion.
Stocks found support on Monday after data showed that activity in the U.S. manufacturing sector contracted for the first time in six months in May.
The Institute for Supply Management said its index of purchasing managers fell to 49.0, the lowest level since June 2009 and below the 50 level that separates contraction from growth.
Microsoft added 0.25% amid reports Chief Executive Officer Steve Ballmer is planning a reorganization aimed at reducing the number of business units and putting more focus on devices and services.
In the same sector, Apple rose 0.30% on reports that the company is getting closer to unveiling its streaming radio service.
Among insurance companies American International Group, Prudential Financial and a unit of General Electric were identified by U.S. regulators as potential risks to the financial system, taking an additional step toward putting the firms under tighter government scrutiny.
AIG shares were up 0.94% despite the news, while Prudential Financial jumped 1.19%.
Elsewhere, FedEx, which is currently in the midst of a USD1.7 billion restructuring, gained 0.93% as it was reportedly planning to accelerate plans to park 86 fuel-guzzling older aircraft to further reduce operating costs.
Also in company news, News Corp. was up 0.86% as its Fox Broadcasting was said to be asking a federal appeals court to overrule a district judge and halt Dish Network's AutoHop ad-skipping service that it says threatens television’s advertising system.
On the downside, Dollar General plummeted 6.82% after the discount chain slashed the top end of its full-year earnings outlook, due to moderating sales growth and a lower gross profit rate.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.61%, France’s CAC 40 advanced 0.55%, Germany's DAX gained 0.47%, while Britain's FTSE 100 rose 0.47%.
During the Asian trading session, Hong Kong's Hang Seng Index inched 0.01% higher, while Japan’s Nikkei 225 Index surged 2.05%.