The S&P 500 and the Nasdaq opened slightly higher on Tuesday following the benchmark index's worst day in a month as investors parsed through corporate earnings, while bracing for volatility in the run up to the presidential election.

The Dow Jones Industrial Average fell 34.20 points, or 0.12%, at the open to 27,651.18.

The S&P 500 opened up by 5.59 points, or 0.16%, at 3,406.56, while the Nasdaq Composite gained 50.40 points, or 0.44%, to 11,409.34 at the opening bell.