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US stocks higher ahead of Fed testimony

AFP

US stocks opened solidly higher Tuesday in anticipation of congressional testimony by Federal Reserve Chairman Ben Bernanke.

The markets were also buoyed by upbeat earnings results, including from home-improvement retailer Home Depot.

Fifteen minutes into trade, the Dow Jones Industrial Average was up 83.01 points (0.60 percent) to 13,867.18.

The broad-based S&P 500 jumped 7.45 points (0.50 percent) to 1,495.30, while the tech-rich Nasdaq Composite Index rose 7.28 (0.23 percent) to 3,123.53.

The gains partially offset deep losses sustained Monday in the wake of the uncertain outcome of Italian elections.