US Stocks Rise on Tuesday as Oil Prices Steady Amid Middle East Tensions

US stock markets opened slightly higher on Tuesday, but investors remained cautious due to ongoing tensions in the Middle East and concerns about oil prices.

The S&P 500 rose 0.1%, while the Nasdaq Composite gained 0.3% and the Dow Jones Industrial Average added 117 points or 0.2% shortly after the opening bell.

Oil prices, which had risen earlier in the morning, later steadied and moved slightly lower, reflecting uncertainty over the Middle East situation and the possibility of the Strait of Hormuz reopening.

Nvidia shares gained around 2% as investors continued to react to the company's major artificial intelligence investment plans, supporting technology stocks and the Nasdaq.

Investors are now looking ahead to important US inflation data, with the July Consumer Price Index report due Wednesday and the Producer Price Index on Thursday. The inflation reports are especially important for the Federal Reserve as the latest jobs report was weak.