The US bourse is set to open higher as European leaders get ready to meet.

New York - US stocks opened higher on Tuesday, putting the S&P 500 on track for a second straight day of gains, following solid earnings from Home Depot as well as supportive economic data on inflation and the housing market.

The Dow Jones industrial average rose 40.24 points or 0.24 percent, to 16,878.98, the S&P 500 gained 2.68 points or 0.14 percent, to 1,974.42 and the Nasdaq Composite added 6.28 points or 0.14 percent, to 4,514.59.

Shares of Home Depot, a Dow component, jumped 4.6 percent to $87.33 (R928). - Reuters