U.S. stock indexes opened modestly higher early Tuesday after the steep drop in the Turkish lira seen over the past few days lost momentum, easing concerns that the country's currency crisis had further room to run.
The S&P 500 rose 7 points, or 0.3%, to 2,829. The Dow Jones Industrial Average advanced 64 points, or 0.2%, to 25,252. The Nasdaq Composite Index opened higher by 26 points, or 0.3%, to 7,846. Investors have closely eyed the weakness in Turkey's currency after it sparked widespread selling in emerging-markets funds and European bourses, on rampant fears of contagion from Ankara's monetary problems. However, investors appear focused on the health of the U.S. economy and a stretch of corporate quarterly results that have been healthy. Notably, Home Depot Inc. reported better-than-expected second-quarter results earlier in the session, helping to lift investor sentiment.
Source : Marketwatch