Wall Street opens higher, Home Depot rallies

NEW YORK (Reuters) - U.S. stocks opened higher on Tuesday, putting the S&P 500 on track for a second straight day of gains, following solid earnings from Home Depot as well as supportive economic data on inflation and the housing market.

The Dow Jones industrial average <.DJI> rose 40.24 points or 0.24 percent, to 16,878.98, the S&P 500 <.SPX> gained 2.68 points or 0.14 percent, to 1,974.42 and the Nasdaq Composite <.IXIC> added 6.28 points or 0.14 percent, to 4,514.59.

Shares of Home Depot, a Dow component, jumped 4.6 percent to $87.33.

(Reporting by Ryan Vlastelica; Editing by Nick Zieminski)