The U.S. stock market opened higher on Tuesday, with investors focusing on a deluge of economic data, including housing and consumer confidence reports. Markets were reassured by comments from Philadelphia Fed president Charles Plosser, who said that Janet Yellen's rate forecast "wasn't a wildly unexpected timeframe.He further corrected to say one can see interest rates at 4 percent level by 2016.
" Ahead of the opening bell, data on U.S. home prices showed a third consecutive decline due to harsh winter, while longer-term trends show that price growth is slowing down. The S&P 500 opened 12.19 points, or 0.7%, higher at 1,869.63. The Dow Jones Industrial Average jumped 121.19 points, or 0.7%, to 16,400.96 at the open. The Nasdaq Composite began the day up 33.50 points, or 0.8%, at 4,259.63
" Ahead of the opening bell, data on U.S. home prices showed a third consecutive decline due to harsh winter, while longer-term trends show that price growth is slowing down. The S&P 500 opened 12.19 points, or 0.7%, higher at 1,869.63. The Dow Jones Industrial Average jumped 121.19 points, or 0.7%, to 16,400.96 at the open. The Nasdaq Composite began the day up 33.50 points, or 0.8%, at 4,259.63