U.S. stocks rose Monday, riding momentum from last week’s encouraging reports on inflation and bank earnings.
Initially weighed down by data showing the Chinese economy barely grew in the second quarter, U.S. stock indexes gathered strength in early trading and then built on those gains as the day progressed. The Dow Jones Industrial Average added 0.2%, or about 76 points. The S&P 500 rose 0.4%, while the tech-heavy Nasdaq Composite advanced 0.9%.
Stocks got a boost last week, finishing with gains by all three major indexes, after data showed that the consumer-price index rose less than anticipated in June. That report was followed by similarly hopeful data on supplier prices. On Friday, the country’s biggest banks reported better-than-expected earnings, buoyed by resilient consumer borrowing.
Read the full story on The Wall Street Journal here.