Peter Nurse   

Investing.com: U.S. stocks open higher on Tuesday as a continuation of the positive tone before the release of several corporate earnings. This includes the latest from Facebook (NASDAQ): 

At 7:01 AM ET (1100 GMT), it had risen 125 points (or 0.4%), traded 18 points higher (0.4%) and gained 80 points (or 0.5%).

Wall Street closed Monday higher for the major indices, with both and closing at records highs, after they gained 0.2% and 0.5% respectively. It was 0.9% higher than the other major indices, while the tech-oriented index is currently around 1% below its historic high.

Facebook’s third quarter net profit was $9 billion, an improvement on the $7.8 million last year. But, the company is still grappling with issues posed by Apple (NASDAQ:) recent privacy rule changes as well as the negative publicity that has been associated with leaks of internal documents. It also revealed a $50 billion boost to its stock-buyback program.

Later Tuesday will see the major tech earnings, including Alphabet (NASDAQ) from Google and Microsoft (NASDAQ) as they release their third quarter results. The reports from 3M and Eli Lilly (NYSE 🙂 General Electric (NYSE:) United Parcel Also, Visa (NYSE 🙂 and Service (NYSE 🙂 will be examined. 

Uber (NYSE) will also be of interest Tuesday, after the ride-hailing company and food delivery firm agreed to start a rapid grocery delivery service for Paris. Carrefour (PA:), Europe’s largest retailer.

The main economic release Tuesday will be September’s , which are expected to have grown by 760,000 in the month, up from 740,000 in August.

Crude prices stabilized Tuesday after the recent strong rally and ahead of the release of the latest U.S. stockpiles from the , a guide to demand in the world’s biggest consumer of oil.

Oil prices have more than doubled over the last year, helped by strong demand in the United States, as the world’s largest economy recovers from the damage caused by the Covid-19 pandemic.

According to a Reuters poll crude oil stocks are likely to have risen by 1.7million barrels last week. However, gasoline and distillate inventories will fall.

The futures closed flat at $83.75/barrel at 7 AM ET. However, the contract traded flat at $85.17.

Also, the price of $1,803.15/oz was 0.2% less than it was at 1.1623, which is 0.1% more.