Stocks Opened Higher amid Progress in Fiscal Stimulus Talks

U.S. stocks opened modestly higher on Tuesday, after talks toward a new round of fiscal stimulus between the Trump administration and House Democrats made some progress. The Dow Jones Industrial Average lately rose 141.23 points, or 0.50%, to 28,336.65. The S&P 500 added 18.45 points, or 0.54%, to 3,445.37. The Nasdaq Composite advanced 47.90 points, or 0.42%, to 11,526.79.

Oil futures traded little changed early Tuesday though a surge in COVID-19 cases in Europe and the U.S. remains a concern as it is seen limiting energy demand. West Texas Intermediate crude for December delivery was up 2 cents at $41.08 a barrel. December Brent crude was unchanged at $42.62 a barrel.

U.S. homebuilding rebounded in September as the housing market continued to be the star of the economic recovery, driven by record-low interest rates and a migration to the suburbs and low-density areas in search of more room for home offices and schooling. Housing starts increased 1.9% to a seasonally adjusted annual rate of 1.415 million units last month, the Commerce Department said on Tuesday.

The Wall Street Journal reported that the Justice Department was prepared to file a long anticipated antitrust lawsuit Tuesday against Google, a unit of Alphabet Inc.