Wall Street Opens Higher Lifted by Tech IPO Buzz; Dow up 125 Pts

U.S. stock markets opened higher again on Tuesday, as faith in the growth narrative underpinning the rally in tech stocks withstood the pressure of its first serious correction in months.

That faith was expressed in strong demand for two software IPOs which are due to price later Tuesday, those of Snowflake and JFrog. Both raised their marketing ranges on Monday and Snowflake is now set to come to market with a valuation of some $30 billion.

By 9:40 AM ET (1340 GMT), the Dow Jones Industrial Average was up 126 points, or 0.5%, at 28,119 points. The S&P 500 was up 0.9% and the Nasdaq Composite was back to its habit of outperforming, with a rise of 1.5%.