Stocks have moved modestly higher in early trading on Tuesday after showing a lack of direction throughout the previous session. The major averages have all moved to the upside, with the S&P 500 reaching a new record intraday high.
The early strength on Wall Street is partly due to a positive reaction to comments from widely followed hedge fund manager David Tepper.
Tepper, the head of Appaloosa Management, told CNBC he is "definitely bullish" on stocks and said "the economy is getting better."
"What's going to make you bearish?" Tepper said in an interview on CNBC's Squawk Box. "I think every place is the place to be in the stock markets of the world."
Airline stocks have shown a notable move to the upside in early trading, resulting in a 1.2 percent gain by the NYSE Arca Airline Index. Copa Holdings (CPA) has helped to lead the sector higher after reporting its first quarter results.
Biotechnology and banking stocks are also seeing early strength, moving higher along with most of the other major sectors.
The major averages have seen some further upside in recent trading, reaching new highs for the young session. The Dow is up 35.83 points or 0.2 percent at 15,127.51, the Nasdaq is up 13.79 points or 0.4 percent at 3,452.58 and the S&P 500 is up 6.30 points or 0.4 percent at 1,640.07.
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