U.S. stocks rose in early trading on Tuesday, with the S&P 500 ticking up about 0.5 percent. The benchmark index is on track for its fifth-consecutive day of gains and is up nearly 5 percent since its Oct. 4 nadir after a slide in September.
Cryptocurrency prices rose, with Bitcoin reaching $62,500, according to CoinDesk. On Tuesday, ProShares will offer a long-awaiting exchange-traded fund on the New York Stock Exchange linked to Bitcoin futures, and Bitcoin has been trading at prices not seen since April.
A series of companies will publish their quarterly financial performance reports this week. United Airlines and Netflix will report their results Tuesday afternoon.
Johnson & Johnson reported that sales grew 10.7 percent to more than $23 billion in the third quarter compared with the same period last year. Shares of the pharmaceutical manufacturer rose 2.4 percent in early trading.
Procter & Gamble stock fell about 1.6 percent in early trading after the company reported it experienced higher commodity and freight costs during the three months ending in September.
Oil prices were little changed on Tuesday, with West Texas Intermediate, the U.S. benchmark, hovering around $81.60 a barrel. Oil futures are at seven-year highs and are up 70 percent this year amid a global energy crunch that is pushing prices higher for other commodities.
