NEW YORK (CNNMoney.com) - Stocks rose in the early going Tuesday as a rebound in commodities and global markets lifted sentiment.

The Dow Jones industrial average (down 18.73 to 11,125.33, Charts) added 0.4 percent and the Standard & Poor's 500 index (Charts) gained about 0.5 percent after the market open.

The Nasdaq composite (down 21.02 to 2,172.86, Charts) rallied 0.9 percent, nearly making up its loss from Monday.

Stocks have slumped in the last two weeks as investors have faced a fresh wave of inflation concerns and worried about the possibility of more rate hikes choking off economic growth.

No major economic reports are due, but Federal Reserve Chairman Ben Bernanke, Treasury Secretary John Snow and Securities and Exchange Commission Chairman Christopher Cox are due to testify before the Senate Banking Committee.

While their testimony will be on the topic of improving financial literacy, they could face questions about their outlook for inflation and economic growth. Concerns about those topics have weighed on markets for the last week.

U.S. light crude oil for July delivery rose 90 cents to $70.86 a barrel in electronic trading.

Treasury prices were lower, raising the yield on the benchmark 10-year note to 5.07 percent, up from 5.04 percent late Monday. Treasury prices and yields move in opposite directions.

In currency trading, the dollar fell against the euro and the yen.

COMEX gold rose $7.50 to $665.20 an ounce.

In global trade, major Asian markets ended lower, and European shares were higher in early afternoon trading.

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