NEW YORK: US stocks took their cue from international markets Tuesday and moved higher following news of slowing inflation in China.
Five minutes into trade, the Dow Jones Industrial Average rose 27.26 (0.19 percent) to 14,640.74.
The broad-based S&P 500 gained 2.74 (0.18 percent) to 1,565.81, while the tech-rich Nasdaq Composite Index jumped 7.17 (0.22 percent) to 3,229.42.
Stock markets were mostly higher in Europe and Asia, although Japan's Nikkei 225 fell slightly.
Official data showed that China's inflation rate slowed faster than expected, news that will allow the central Bank of China to hold off on tightening monetary policy.
"All else equal, the more growth there can be in China, the more demand there will ultimately be for basic materials," said Briefing.com's Patrick O'Hare.
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