Stocks rose at the open on Tuesday on renewed hopes for a global economic recovery after Australia raised interest rates and in anticipation of an improved earnings season.

The Dow Jones industrial average <.DJI> jumped 70.66 points, or 0.74 percent, at 9,670.41. The Standard & Poor's 500 Index <.SPX> was up 8.46 points, or 0.81 percent, at 1,048.92. The Nasdaq Composite Index <.IXIC> rose 15.28 points, or 0.74 percent, at 2,083.43.

The U.S. dollar fell against a basket of currencies, lifting commodity prices, and pointed to an increase in risk appetite that also boosts equities. The U.S. dollar index <.DXY> shed 0.4 percent.

(Reporting by Angela Moon; editing by Jeffrey Benkoe)