American equity markets open positively ahead of Fed

The US Stock market experienced a tepidly positive opening Tuesday, one day removed from the beat down received after Italian elections failed to provide a clear-cut winner, sparking widespread risk. In the United States, the Housing Price Index (MoM) came in at +0.6% in the month of December, consistent with expectations calling for the same growth. In addition, the Redbook Index (MoM) (February 17) grew +1.4%, compared with +1.5% previously. Finally, the S&P/Case-Shiller Home Price Indices (YoY) has climbed +6.8% in December, beating estimates of only +6.6%. Investors are cautiously watching the Fed testimony at 15:00 GMT.

Beginning with the indices and composites, the NASDAQ rose +0.41% as it settles in region of 3129.18, up +12.71 points in these moments. In addition, the S&P 500 is trading in positive territory, operating at 1496.21, ascending +8.13 points or +0.55% at the time of writing. Finally, the Dow Jones has moved high at the opening as well, trading in the zone of 13854.30, presently +0.51% after a movement of +70.13 points.

Sectors are nearly all in the green currently, however the Consumer Cyclical and Basic Materials sectors have distinguished themselves as main winners thus far, advancing +1.00% and +0.65% respectively. In other news, the price of crude has settled below USD $93.00/bbl Tuesday.