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U.S. stocks rose in early trading Monday ahead of the Federal Reserve’s release of key economic data this week.
As of 10 a.m. EDT, the Dow Jones Industrial Average rose 220.78 points, or .69%, to 32,372.49. The S&P 500 gained 33.86 points, or .83%, to 4,101.22, and the Nasdaq Composite was up 141.66 points, or 1.12%, to 12,254.93.
The early surge added to three straight days of gains to close last week, helping to reverse three weeks of declining stock prices. The Fed is expected to release the August consumer price index report on Tuesday.
Some of the tech stocks that saw early gains included Apple (AAPL), which rose to $161.52, up $4.15, or 2.64%. Qualcomm’s (QCOM) price of shares rose $1.26, or 1.66%, to $133.21.
“We see the relief in equity prices and the recent broad Dollar correction continue into the week, as markets eye short-term peak central bank hawkishness and positioning is relatively defensive,” Citi strategist Ebrahim Rahbari said in a note to clients.
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