US open: Dow rises amid hopes of solution on Greek debts

US stock markets edged higher early on Tuesday, amid speculations that Greece and its international creditors were moving towards a solution.

Just before 10:00 in New York, the Dow Jones Industrial Average rose 0.51%, while the S&P 500 and the Nasdaq rose 0.49% and 0.61% respectively.

Greek media reported that prime minister Alexis Tsipras will speak with European Commission president Jean-Claude Juncker this afternoon, at 15:30 GMT.

However, Brussels officials remained cautious over the outcome of possible negotiations with Athens.

“Our expectations are low that any final agreements will be reached on Greece this week," said a spokeswoman for the European Commission.

On Wednesday, the finance ministers of the Eurozone countries, the so-called Eurogroup, will meet to decide Greece's destiny, but analysts said a permanent solution remained hard to achieve.

Meanwhile, the NFIB’s gauge of small business confidence advanced to a reading of 97.9 from 100.4 in the prior month, just below consensus estimates of a 101 reading.

In corporate news, Coca-Cola rose 3.49% after quarterly results exceeded Wall Street's expectations, while Molson Coors Brewing Company advanced 2.28% after it raised its dividend 11% to 41 cents from 38 cents. The brewing giant said its profits had been hit by strong currency headwinds and added it was readying a $1bn share repurchase.

Aeropostale soared 18.56% after the group's fourth-quarter loss narrowed, while Qualcomm rose 3.23% after announcing late on Monday that it reached a deal with the Chinese government over infractions of the country’s antimonopoly law and agreeing to pay a $975m fine.

CVS gained 0.32% after the pharmacy chain reported earnings above estimates and Apple rose after a report in the Wall Street Journal suggested the iPhone maker will go ahead with plans to sell a debut bond in Swiss francs.

Gold futures fell 0.39% to $1,236.60, while the dollar gained 0.7% and 0.2% against the yen, but relinquished 0.1% against the pound.

Brent crude was stable at $58.40 a barrel, while the price of West Texas Intermediate crude tumbled over 1% to $52.30 a barrel.