NEW YORK: Wall Street stocks built on recent gains early Monday, with the broad-based S&P 500 adding to its record close last week while major companies get ready to report their financial results.
About 10 minutes into trading, the Dow Jones Industrial Average advanced 0.3 percent to 37,994.04.
The S&P 500 climbed 0.5 percent to 4,862.07, while the Nasdaq Composite Index added 0.7 percent to 15,414.03.
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“Ongoing strength in tech stocks has supported the positive bias this morning in front of a busy week of earnings news and economic data,” said Briefing.com in a note.
Key companies reporting their earnings this week include United Airlines, Procter & Gamble, Tesla and Netflix.
United Airlines shares were up 1.3 percent in early trading, while electric vehicle maker Tesla ticked up 0.2 percent.
Investors will be closely eyeing economic data this week including gross domestic product data due Thursday as well.
US policymakers appear on track to lower inflation without tipping the economy into a recession so far, and all eyes are on further indicators of the health of the world’s biggest economy.
Data on the Federal Reserve’s favored inflation gauge will be released Friday, and this is watched too for its potential bearing on the central bank’s upcoming interest rate decisions.