Investing.com - U.S. stocks opened higher on Tuesday, after the release of upbeat U.S. data and as concerns that the Federal Reserve may soon scale back its stimulus program began to ease.
During early U.S. trade, the Dow Jones Industrial Average climbed 0.72%, the S&P 500 index jumped 0.90%, while the Nasdaq Composite index rallied 1.08%.
The Commerce Department said orders for long lasting manufactured goods rose 0.7% last month, defying expectations for a 0.1% decline.
Core durable goods orders, which exclude volatile transportations items, were up 3.6% in May, outstripping expectations for a 3% gain.
Global stocks gained ground earlier, after officials from the Federal Reserve downplayed market concerns over prospects of an end to the central bank’s easing policies.
On Monday, Narayana Kocherlakota, president of the Federal Reserve Bank of Minneapolis, said the central bank was committed to continuing its bond purchase program until the U.S. unemployment rate falls further.
Microsoft shares jumped 1.74% and Oracle advanced 0.76% after the two companies announced a tie-in to garner advantage against newer, web-based cloud computing companies.
Aircraft manufacturer Boeing was also on the upside, rallying 1.34% after the company said it posted orders for 232 aircraft in May, up from 51 the month before, marking an 85% seasonally adjusted month-on-month surge.
Among Internet-related companies, Google shares gained 0.68%, as an adviser to the European Union’s top court said the company can’t be forced to remove material from its search engine that was legally posted on other websites.
Among earnings, Lennar surged 2.83% after the homebuilder posted earnings that beat expectations.
Barnes & Noble dove 10.63% after the bookstore chain reported that its quarterly net loss more than doubled as sales of its Nook device and e-books continued to drop and business at its bookstores declined.
Other stocks likely to be in focus included Apollo Group and Smith & Wesson, due to report quarterly results after the closing bell.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 jumped 1.42%, France’s CAC 40 surged 1.46%, Germany's DAX rallied 1.71%, while Britain's FTSE 100 advanced 1.22%.
During the Asian trading session, Hong Kong's Hang Seng Index added 0.21%, while Japan’s Nikkei 225 Index dropped 0.72%.
Later in the day, the U.S. was to release reports on home sales and consumer confidence.
During early U.S. trade, the Dow Jones Industrial Average climbed 0.72%, the S&P 500 index jumped 0.90%, while the Nasdaq Composite index rallied 1.08%.
The Commerce Department said orders for long lasting manufactured goods rose 0.7% last month, defying expectations for a 0.1% decline.
Core durable goods orders, which exclude volatile transportations items, were up 3.6% in May, outstripping expectations for a 3% gain.
Global stocks gained ground earlier, after officials from the Federal Reserve downplayed market concerns over prospects of an end to the central bank’s easing policies.
On Monday, Narayana Kocherlakota, president of the Federal Reserve Bank of Minneapolis, said the central bank was committed to continuing its bond purchase program until the U.S. unemployment rate falls further.
Microsoft shares jumped 1.74% and Oracle advanced 0.76% after the two companies announced a tie-in to garner advantage against newer, web-based cloud computing companies.
Aircraft manufacturer Boeing was also on the upside, rallying 1.34% after the company said it posted orders for 232 aircraft in May, up from 51 the month before, marking an 85% seasonally adjusted month-on-month surge.
Among Internet-related companies, Google shares gained 0.68%, as an adviser to the European Union’s top court said the company can’t be forced to remove material from its search engine that was legally posted on other websites.
Among earnings, Lennar surged 2.83% after the homebuilder posted earnings that beat expectations.
Barnes & Noble dove 10.63% after the bookstore chain reported that its quarterly net loss more than doubled as sales of its Nook device and e-books continued to drop and business at its bookstores declined.
Other stocks likely to be in focus included Apollo Group and Smith & Wesson, due to report quarterly results after the closing bell.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 jumped 1.42%, France’s CAC 40 surged 1.46%, Germany's DAX rallied 1.71%, while Britain's FTSE 100 advanced 1.22%.
During the Asian trading session, Hong Kong's Hang Seng Index added 0.21%, while Japan’s Nikkei 225 Index dropped 0.72%.
Later in the day, the U.S. was to release reports on home sales and consumer confidence.