US stocks climb to open week of central bank talk, politics

Traders work the floor of the New York Stock Exchange on August 16, 2024. – US stocks edged lower in early trading Friday, as traders looked to lock in gains at the end of a positive week for major Wall Street indices. Around 10 minutes into trading, the Dow Jones Industrial Average was down 0.1 percent at 40,518.87, and the S&P was 0.1 percent lower at 5,536.08. The Nasdaq slipped 0.2 percent to 17,566.08. (Photo by ANGELA WEISS / AFP)

New York, United States — Wall Street stocks edged higher early Monday to start a week due to be highlighted by central bank commentary and US presidential politics.

Markets were quiet in opening trading after last week’s surge following solid US economic data that offered reassurances after recession fears buffeted markets earlier in August.

Recent US data “offered reasons for investors to maintain their bullish bias and allow them to conclude that the economy remains resilient,” said Sam Stovall, chief investment strategist at CFRA Research.

READ: Asian markets get week off to largely positive start

About 15 minutes into trading, the Dow Jones Industrial Average was up 0.2 percent at 40,751.22.

The broad-based S&P 500 also added 0.2 percent at 5,563.70, while the tech-rich Nasdaq Composite Index climbed 0.1 percent to 17,656.21.

This week’s calendar includes home sale data, earnings from retailers and commentary from the annual Federal Reserve gathering in Jackson Hole, Wyoming.

However, much of the focus will be on the US presidential campaign, with Vice President Kamala Harris slated to deliver a headline speech at Thursday’s final night of the Democratic convention in Chicago.