NEW YORK, Dec. 27 (Xinhua) — U.S. stocks opened higher on Tuesday, as investors awaited economic data on the first trading day after the long holiday weekend.
Consumer confidence for December is due later Tuesday.
Trading volume was expected to be thin Tuesday as investors had little news to digest and global equities were largely unchanged.
“This week into next week is when investors usually see the fabled ‘Santa Claus Rally’,” said Stephen Guilfoyle, president of the trading firm Sarge986.
“Now that we’ve penciled in the next correction, or even the next server test for Jan. 4, but we all know that a test to the downside is out there, somewhere,” he added.
The U.S. markets were closed Monday in observance of the Christmas Day holiday.
Shortly after Tuesday’s opening bell, the Dow Jones Industrial Average was up 35.92 points, or 0.18 percent, to 19,969.73. The S&P 500 gained 6.15 points, or 0.27 percent, to 2,269.94.
U.S. stocks ended higher last week after wavering between gains and losses, as many traders were expected to be away from their desks for the Christmas holiday.
