US open: S&P 500 continues record-setting run

(Sharecast News) - Wall Street stocks were slightly higher at the opening bell on Monday following a record-setting week for the S&P 500. As of 1555 GMT, the Dow Jones Industrial Average was 0.11% higher at 38,713.41, while the S&P 500 advanced 0.10% to 5,031.78 and the Nasdaq Composite came out the gate 0.26% firmer at 16,032.66.

The Dow opened 41.72 points higher on Monday, taking a solid bite out of losses recorded in the previous session.

In focus early on Monday, the S&P 500 continued to move higher at the open after the index closed above the 5,000-point watermark for the first time in the previous session.

Corporate earnings will again draw an amount of investor attention this week, with Lyft, DoorDash, Kraft Heinz, Hasbro and Coca-Cola all set to report earnings before the week is out.

On the macro front, traders were also looking ahead to January's consumer price index reading on Tuesday.

As for Monday, Federal Reserve governor Michelle Bowman said it was "too soon to predict" when the central bank will look to start cutting interest rates or even just how far the cuts will go, adding that she does not think it appropriate to begin cuts in the "immediate future."

Still to come, Thomas Barkin and Neel Kashkari will speak at 1700 and 1800 GMT, respectively.





Reporting by Iain Gilbert at Sharecast.com