Wall St. Up Ahead Of Bank Earnings And Powell Testimony This Week

Stocks edged higher in morning trading on Wall Street Monday, adding to the record highs set last week.

Traders are looking ahead to several earnings reports this week. I Photo: New York Stock Exchange Facebook

The S&P 500 rose 0.2%, the Nasdaq rose 0.1%, and the Dow Jones Industrial Average increased by 209 points, or 0.5%, as of 9:59 a.m., Damian J. Troise reported for the Associated Press (AP).

Traders are looking ahead to several earnings reports this week, including updates from Delta Air Lines on Thursday. JPMorgan, Citigroup, and Wells Fargo will report results on Friday.

The latest updates from banks could provide Wall Street with a clearer picture of how consumers are handling increased debt and whether banks are concerned about payments and potential delinquencies.

Federal Reserve Chair Jerome Powell will address Congress on Tuesday and Wednesday. Treasury yields were relatively stable in the bond market, with the yield on the 10-year Treasury remaining at 4.28% from late Friday.

European stocks gained ground after France's elections left its legislature divided among left, center, and far-right factions, with no single political group obtaining a majority. Stocks in Asia fell, Zimo Zhong and Matt Ott also reported for AP.