US benchmark equity indexes were higher ahead of Tuesday's close as markets assessed the latest corporate results, while the International Monetary Fund upgraded its 2024 US economic growth outlook. The Nasdaq Composite was up 0.2% at 18,583.9, while the Dow Jones Industrial Average and the S&P 500 rose 0.1% each to 42,992.4 and 5,856.8, respectively.

Among sectors, consumer staples paced the gainers, while industrials saw the steepest decline. Shares of General Motors and Philip Morris International surged after the companies reported their latest quarterly financial results. Genuine Parts and Verizon Communications saw declines following their results. The US 10-year yield rose 1.8 basis points to 4.2%, while the two-year rate was little changed at 4.03%. The IMF said the upgraded US economic growth outlook for this year is due to "stronger outturns" in consumption and nonresidential investment. West Texas Intermediate crude oil increased 2.4% to $72.24 a barrel..