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US open: Dow trades higher as investors look ahead to CPI reading, Q2 earnings
(Sharecast News) - Wall Street stocks were in the green early on Monday as investors prepared for the beginning of Q2 corporate earnings season later in the week. As of 1545 BST, the Dow Jones Industrial Average was up 0.37% at 39,519.80, while the S&P 500 advanced 0.09% to 5,572.18 and the Nasdaq Composite came out the gate 0.07% firmer at 18,366.49.
The Dow opened 143.93 points higher on Monday, extending gains recorded in the previous session.
Market participants were patiently awaiting the release of earnings from a number of major US banks later in the week, as well as quarterly numbers from the likes of PepsiCo and Delta Air Lines.
June's consumer price index, slated for release on Thursday, will also draw much investor attention, as will last month's producer price index on Friday.
On the macro front for Monday, May consumer credit change figures will be published at 2000 BST.
In the corporate space, Morphic shares traded sharply higher after pharmaceutical giant Eli Lilly agreed to acquire the firm in a deal that values the farm at roughly $3.2bn, while Paramount Global stock was on the ascent after it reached a deal to merge with Skydance Media.
Reporting by Iain Gilbert at Sharecast.com
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