Wall Street opens higher, Home Depot rallies

Supportive economic data on inflation and the housing market also led the higher numbers

US stocks opened higher on Tuesday, putting the S&P 500 on track for a second straight day of gains, following solid earnings from Home Depot as well as supportive economic data on inflation and the housing market.

The Dow Jones industrial average rose 40.24 points or 0.24%, to 16,878.98, the S&P 500 gained 2.68 points or 0.14%, to 1,974.42 and the Nasdaq Composite added 6.28 points or 0.14%, to 4,514.59.

Shares of Home Depot, a Dow component, jumped 4.6% to $87.33.