Wall Street rises as Nvidia earnings loom

Wall Street stocks opened higher on Tuesday as oil prices and bond yields eased ahead of Nvidia's earnings report.

About 10 minutes into trading, the Dow Jones Industrial Average was up 0.2 percent at 53,517.88 points. The S&P 500 rose 0.4 percent to 7,685.07, while the Nasdaq Composite gained 0.7 percent to 26,151.22.

Oil prices were lower after the announcement of new US sanctions on Iran and the threat of secondary sanctions on Washington's allies and opponents.

Sam Stovall of CFRA Research said the rise could be a response to stocks having been lower for several days last week. “If anything, it could simply be a one-day counter trend rally,” he said.

Stovall also cited optimism around Nvidia's upcoming results and expectations for a key inflation gauge due on Wednesday.