Investing.com - U.S. stocks opened higher on Tuesday, after the release of upbeat U.S. house price data and as speculation over possible stimulus measures in China to bolster growth supported.
During early U.S. trade, the Dow 30 climbed 0.70%, the S&P 500 gained 0.61%, while the Nasdaq advanced 0.77%.
In a report, Standard & Poor’s with Case-Shiller said its house price index rose at an annualized rate of 13.2% in January from a year earlier, compared to forecasts for a 13.3% gain and following a rise of 13.4% in December.
Equity markets strengthened amid speculation China could announce fresh stimulus measures to bolster growth after a report on Monday showed that Chinese manufacturing activity deteriorated for a third successive month in March.
Walt Disney Company (NYSE:DIS) jumped 0.99% after the company agreed to buy Maker Studios, a supplier of online video content to YouTube, for at least $500 million, gaining technology and experience with short-form entertainment.
Adding to gains, Google Inc (NASDAQ:GOOG) advanced 0.77% following reports the tech giant will be partnering with Ray-Ban and Oakley for new glass designs.
Also in the tech sector, Apple Inc (NASDAQ:AAPL) climbed 0.46% and Comcast Corporation (NASDAQ:CMCSA) rose 0.26% as the two companies were said to be working together to provide a streaming service that would use an Apple set-top box.
The two groups reportedly hope a collaboration will relieve some of the frustration related to congestion on the Web and buffering issues, which user''s may experience while streaming Web video.
Elsewhere, American Apparel (APP) surged 3.34% after saying it plans to sell $30.5 million of its common stock to help deal with looming debt payments.
Other stocks likely to be in focus included Carnival (NYSE:CCL), Walgreen Co (NYSE:WAG) and McCormick & Company Incorporated (NYSE:MKC), scheduled to report quarterly earnings later in the day.
Across the Atlantic, European stock markets were sharply higher. The DJ Euro Stoxx 50 jumped 1.60%, France’s CAC 40 advanced 1.57%, Germany''s DAX rallied 1.73%, while Britain''s FTSE 100 climbed 1.17%.
During the Asian trading session, Hong Kong''s Hang Seng dropped 0.52%, while Japan’s Nikkei 225 slid 0.36%.
Later in the day, the U.S. was to release a report on consumer confidence, as well as official data on new home sales.