Wall Street opens higher to recoup past losses

US stock indices opened the second session of the week higher, with industrial and consumer shares leading the charge higher in Dow Jones and S&P 500 on short-covering after the worst daily performance in Dow Jones' history and the worst in seven years for S&P 500 on Monday. 

However, stocks regained half of the losses yesterday as investors pluck up cheap stocks, while the fourth-quarter earnings season draws to an end for major American banks and corporations. 

Earlier from the US, Federal Reserve Bank of New York President William Dudley spoke about banking culture at an event jointly hosted by Thomson Reuters and the European American Chamber of Commerce, in New York, while markets await Federal Reserve Bank of San Francisco President John Williams' speech at a community leaders luncheon, in Honolulu.

As of 03:47 GMT, Standard and Poor's 500 rose 0.50%, or 13.47 points to 2,708.61, while Dow Jones added 0.77%, or 192.51 points to 25,105.28. 

Tech-heavy NASDAQ inched up 0.03%, or 2.46 points to 7,118.35.