US stocks open higher as investors eye Fed moves, key inflation data

US stocks open higher as investors eye Fed moves, key inflation data

The Dow Jones Industrial Average rose 120 points, or 0.3 percent, while the S&P 500 gained 0.4 percent and the Nasdaq Composite climbed 0.5 percent in early trade. US stocks opened higher on Monday, buoyed by expectations that the Federal Reserve could stay on track for rate cuts later this year, even as traders brace for fresh inflation readings later in the week.

Attention now turns to July’s consumer price index report due Thursday, which could cement expectations for a September rate cut.

Tech stocks led early gains, with Nvidia, Microsoft, and Apple all trading higher. Financials also advanced, while energy shares lagged as crude prices slipped.

Treasury yields edged lower, with the 10-year note hovering near 3.95 percent. The dollar was little changed.

In Europe, the Stoxx 600 slipped 0.1 percent to 546.50, with London’s FTSE 100 up 0.2 percent, Germany’s DAX down 0.3 percent, and France’s CAC 40 off 0.4 percent. Investors kept to the sidelines ahead of U.S. inflation data and amid uncertainty over whether Washington and Beijing will extend their customs truce. Gold fell 1.3 percent to about $3,352, oil rose 0.5 percent to roughly.