Key facts
- The S&P 500 and Nasdaq Composite opened higher on Tuesday.
- Softer-than-expected inflation data fueled bets on a less hawkish Federal Reserve interest rate stance.
- The Dow Jones Industrial Average opened lower.
- Investors are assessing second-quarter results from major U.S. banks.
The S&P 500 and the Nasdaq Composite opened higher on Tuesday, driven by softer-than-expected inflation data that bolstered expectations for a less hawkish stance from the Federal Reserve on interest rates. Investors were also evaluating the second-quarter earnings reports from prominent U.S. banks.
At the open, the Dow Jones Industrial Average had fallen 452.3 points, or 0.86%, to 52046.36. In contrast, the S&P 500 saw a gain of 21.4 points, or 0.28%, reaching 7536.7. The Nasdaq Composite also advanced, rising 142.3 points, or 0.55%, to 26015.492.