Wall Street opens higher, led by tech

US stock indices opened the second session of the week higher after closing on Monday for the Martin Luther King holiday, led by the tech sector, as the earnings season starts on a positive note for major American banks and corporations. 

Earlier US data showed industrial production rose 0.9% in December, compared to a 0.1% dip in November, revised from a 0.2% increase, while analysts expected a 0.4% increase. 

The Capacity Utilization Rate rose to 77.9% in December from 77.2% in November, revised from 77.1%, while analysts expected 77.3%. 

Otherwise, White House economic adviser Gary Kohen said recently that the stock market is not too high right now, and the tax cuts have begun to have an impact on the economy, with wages rising and optimism improving. 

Last month, President Donald Trump singed into law the $1.5 trillion tax reform bill, which cuts the corporate tax rate from 35% to 21%, while also signing a stopgap government spending bill to prevent a government shutdown, in turn underpinning Wall Street to successive record highs. 

As of 03:17 GMT, Standard and Poor's 500 rose 0.35%, or 9.79 points to 2,786.21, while Dow Jones added 0.52%, or 133.16 points to 25,926.02. 

Tech-heavy NASDAQ added 0.38%, or 27.80 points to 7,251.49.