US stock indices on Monday edged higher ahead of consumer inflation data and Federal Reserve Chair Jerome Powell’s testimony to the Congress this week.
Powell’s testimony to the Congress on Tuesday and Wednesday, could provide cues on monetary policy path.
A report on Consumer Price Index (CPI) for June will be released on Thursday.
At 9:48 a.m. ET, the Dow Jones Industrial Average was up 276.53 points, or 0.70 per cent, at 39,652.40, the S&P 500 was up 13.11 points, or 0.24 per cent, at 5,580.30, and the Nasdaq Composite was up 21.41 points, or 0.12 per cent, at 18,374.17.
In the early trading, the S&P 500 was up 0.2 per cent, the Nasdaq edged up 0.1 per cent, and the Dow Jones Industrial Average was up 0.6 per cent.
Shares of chip companies Nvidia, Intel, Marvell Technology, Advanced Micro Devices and Qualcomm surged between 1per…
