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US stocks rise despite Italy downgrade

NEW YORK : US stocks opened higher Tuesday, lifted by gains in European equities as investors ignored Italy's credit
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By Imad Uddin
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NEW YORK: US stocks opened higher Tuesday, lifted by gains in European equities as investors ignored Italy's credit rate downgrade.

The Dow Jones Industrial Average rose 31.18 points (0.27 percent) to 11,432.19 in the first five minutes of trading.

The broader S&P 500 advanced 4.23 points (0.35 percent) to 1,208.32, while the tech-heavy Nasdaq Composite gained 8.50 points (0.33 percent) to 2,621.33.

"With European equity markets rising despite a credit rating downgrade of Italy by Standard & Poor's, US stocks are finding some support," Charles Schwab analysts said in a client note.

 

Copyright AFP (Agence France-Presse), 2011

 

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