U.S. stock indexes opened higher on Monday morning following a challenging week for the S&P 500 and Nasdaq Composite. Investors now turn their attention to upcoming corporate earnings and important inflation readings scheduled for release later this week.
Positive Openings for Major Indexes
The Dow Jones Industrial Average (DJIA) saw a rise of 250 points, or 0.7%, reaching 35,317. Similarly, the S&P 500 gained 0.5% and the Nasdaq Composite advanced 0.3%. Last week proved challenging for the Dow, experiencing a 1.1% decline, while the S&P 500 saw a more significant drop of 2.3%, marking an end to three consecutive weeks of gains. The S&P and Nasdaq faced their most substantial weekly percentage drops since the banking upheaval in March, which coincided with a surge in Treasury yields.
Focus on Upcoming Inflation Data
Investor attention will now shift towards the release of key inflation data for July, specifically the consumer and producer price indexes. These figures, set to be disclosed later in the week, will provide insights into rising consumer prices and overall inflationary pressures.
Economic Data on the Horizon
In addition to the inflation data, investors can anticipate the release of the consumer-credit report for June later today at 3 p.m. Eastern Time.
Stay tuned for further updates on the market’s performance.