Oil prices and Chinese stocks slumped after Beijing imposed sweeping Covid-19 lockdowns, while U.S. stock indexes opened higher ahead of the start of a cycle of interest-rate rises from the Federal Reserve.

The S&P 500 rose 0.7% in early trading Tuesday, while the blue-chip Dow Jones Industrial Average was ahead 0.6%. The technology-heavy Nasdaq Composite rose 0.9%. The S&P 500 began the week with modest losses Monday.