US stocks open higher after losing streak
NEW YORK: US stock markets began Tuesday in positive territory, as traders looked ahead to a speech from Federal Reserve Chairman Ben Bernanke after a string of losing sessions.
The Dow Jones Industrial Average was up 52.98 points (0.44 percent) to 12,142.94 points in the opening minutes of trade.
The broad-based S&P 500 gained 6.33 (0.49 percent) to 1,292.50.
According to Patrick O'Hare of Briefing.com, the breaching of technical support levels on Monday means investors will be looking to see if a further fall comes in early trade.
The Nasdaq added 11.74 (0.43 percent) to 2,714.30.
Later in the day, Bernanke's comments could set the tone for the afternoon session of trade.
"It seems likely that Mr. Bernanke will acknowledge the current spate of soft economic data and the May employment report in particular," said O'Hare.
Copyright AFP (Agence France-Presse), 2011
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