US stocks opened higher on Tuesday as Chinese data fueled the belief the government may move to stimulate growth, overshadowing recent credit downgrades in Europe and a mixed bag of bank earnings.
China's economy grew slightly more than expected but at the weakest pace in 2-1/2 years, suggesting the government may try to boost growth in the near term by tweaking monetary policy.
The Dow Jones Industrial Average was up 70.99 points, or 0.57%, at 12,493.05. The Standard & Poor's 500 Index was up 8.83 points, or 0.68%, at 1,297.92. The Nasdaq Composite Index was up 24.33 points, or 0.90%, at 2,735.00.
Citigroup Inc was off 4.3% to $29.44 after its quarterly earnings missed expectations, while Wells Fargo & Co advanced 1.3% to $29.99 after its profit topped estimates by a penny.
