US open: Stocks higher as investors await CPI reading
Wall Street stocks were higher at the opening bell on Monday as both the S&P 500 and Nasdaq Composite attempt to bounce back from their worst weekly showing since December.
As of 1515 GMT, the Dow Jones Industrial Average was up 0.63% at 34,082.79, while the S&P 500 advanced 0.55% to 4,112.98 and the Nasdaq Composite came out the gate 0.66% firmer at 11,795.00.
The Dow opened 213.52 points higher on Monday, extending gains recorded in the previous session as major indices wrapped up a volatile week with a mixed performance.
Stocks traded higher at the open on Monday as market participants looked ahead to Tuesday's consumer price index, with traders hoping to gain some kind of insight into the pace of inflation and to figure just what the Federal Reserve may do next in order to combat it.
On the macro front, Federal Reserve banker Michelle Bowman said the central bank will need to continue hiking raise interest rates in order to get them to a level high enough to bring inflation back down to its target rate.
"I expect we'll continue to increase the federal funds rate because we have to bring inflation back down to our 2% goal and in order to do that we need to bring demand and supply into better balance," Bowman said in front of an American Bankers Association conference in Florida.
In the corporate space, Avis Budget and Denny's will both report earnings after the close of trading, while Coca-Cola, Marriott, Airbnb, Kraft Heinz, and Paramount will all publish their latest quarterly earnings figures before the week is out.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Microsoft Corp. (MSFT) $270.96 2.99%
Nike Inc. (NKE) $123.77 1.26%
McDonald's Corp. (MCD) $265.60 1.21%
Walmart Inc. (WMT) $145.34 1.13%
Salesforce.Com Inc. (CRM) $168.79 1.05%
Procter & Gamble Co. (PG) $139.38 0.81%
Intel Corp. (INTC) $28.02 0.79%
Home Depot Inc. (HD) $318.49 0.62%
International Business Machines Corporation (CDI) (IBM) $136.43 0.61%
Cisco Systems Inc. (CSCO) $47.54 0.59%
Dow Jones - Fallers
Caterpillar Inc. (CAT) $244.47 -1.29%
Walt Disney Co. (DIS) $106.88 -1.09%
Chevron Corp. (CVX) $170.33 -0.95%
Boeing Co. (BA) $211.90 -0.47%
Goldman Sachs Group Inc. (GS) $369.83 -0.39%
Verizon Communications Inc. (VZ) $39.92 -0.21%
Amgen Inc. (AMGN) $242.15 -0.14%
Dow Chemical Co. (DOW) $59.76 -0.11%
Dowdupont Inc. (DWDP) $0.00 0.00%
Merck & Co. Inc. (MRK) $108.57 0.00%
S&P 500 - Risers
Microsoft Corp. (MSFT) $270.96 2.99%
Coty Inc. Class A (COTY) $10.71 2.88%
Henry Schein Inc. (HSIC) $88.38 2.67%
Illumina Inc. (ILMN) $201.48 2.49%
Align Technology Inc. (ALGN) $322.96 2.26%
Equifax Inc. (EFX) $210.24 1.98%
VF Corp. (VFC) $26.78 1.94%
Arista Networks Inc. (ANET) $135.85 1.94%
Masco Corp. (MAS) $56.05 1.80%
Idexx Laboratories Inc. (IDXX) $494.04 1.71%
S&P 500 - Fallers
Fidelity National Information Services Inc. (FIS) $64.05 -15.09%
CF Industries Holdings Inc. (CF) $86.92 -3.95%
Mosaic Company (MOS) $49.80 -2.92%
Helmerich & Payne Inc. (HP) $44.47 -2.76%
Exxon Mobil Corp. (XOM) $116.44 -2.29%
Apache Corp. (APA) $42.68 -2.02%
Valero Energy Corp. (VLO) $137.95 -1.98%
FMC Technologies Inc. (FTI) $13.81 -1.95%
Global Payments Inc. (GPN) $115.81 -1.75%
ConocoPhillips (COP) $113.07 -1.73%
Nasdaq 100 - Risers
Baidu Inc. (BIDU) $146.87 5.67%
Microsoft Corp. (MSFT) $270.96 2.99%
Henry Schein Inc. (HSIC) $88.38 2.67%
Illumina Inc. (ILMN) $201.48 2.49%
Trip.com Group Limited (TCOM) $37.47 2.46%
Align Technology Inc. (ALGN) $322.96 2.26%
NetEase Inc. Ads (NTES) $88.34 1.89%
Idexx Laboratories Inc. (IDXX) $494.04 1.71%
Meta Platforms Inc. (META) $176.89 1.57%
Booking Holdings Inc. (BKNG) $2,382.56 1.46%
Nasdaq 100 - Fallers
Tesla Inc (TSLA) $189.19 -3.91%
Paypal Holdings Inc (PYPL) $79.94 -1.07%
Micron Technology Inc. (MU) $59.27 -0.92%
Western Digital Corp. (WDC) $42.67 -0.79%
Vodafone Group Plc ADS (VOD) $11.07 -0.58%
PACCAR Inc. (PCAR) $72.58 -0.56%
Biomarin Pharmaceutical Inc. (BMRN) $108.98 -0.44%
Check Point Software Technologies Ltd. (CHKP) $126.68 -0.38%
Biogen Inc (BIIB) $285.41 -0.31%
Fiserv Inc. (FISV) $115.29 -0.30%