Stock market today: Wall Street opens higher, regaining some momentum after a rare down week
Stocks are rising in early trading as Wall Street regains some momentum after its big rally for the year took a pause last week
NEW YORK — Stocks are rising in early trading as Wall Street regains some momentum after its big rally for the year took a pause last week. The S&P 500 was 0.5% higher Monday, coming off its first losing week in the last four. The Dow was up 208 points, or 0.6%, and the Nasdaq composite was up 0.5%. Berkshire Hathaway rose 1.6% after the company run by Warren Buffett reported stronger results than analysts expected. Besides profit reports from some media giants like The Walt Disney Co. and Fox, this week markets will also get highly anticipated reports on inflation.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
Wall Street was poised to open with modest gains early Monday, with more inflation data and corporate earnings on the way after U.S. employment reports helped to drag markets down last week.
Futures for the Dow Jones industrials ticked up 0.2% before the bell, while futures for the S&P 500 rose 0.3%.
Last week, a highly anticipated U.S. jobs report said hiring was a touch weaker last month than economists expected, though wages for workers rose more than forecast.
Although a strong job market is generally a positive sign for the economy, the U.S. Federal Reserve could see particularly strong wage growth as putting greater pressure on prices. That could translate to another interest rate hike from the U.S. central bank, which has been raising interest rates for a year-and-a-half to try to extinguish inflation not seen since the early 1980s.
However, a moderating jobs markets may help cool inflation from last summer's peak.
On Thursday, the government issues its report
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