Stocks Edged Up ahead of Earnings Deluge, Fed Meeting

U.S. stocks rose slightly in the early trading on Monday, as investors looked forward to another heavy round of corporate earnings, while awaiting new economic data and the results of a Fed policy meeting. The Dow Jones Industrial Average lately edged up 1.02 points, to 26,544.35. The S&P 500 added 2.91 points, or 0.10%, to 2,942.79. The Nasdaq Composite climbed 4.40 points, or 0.05%, to 8,150.80.

Crude oil fell anew on Monday, after U.S. President Donald Trump said he had personally intervened to pressure the Organization of the Petroleum Exporting Countries to lower prices of the commodity. West Texas Intermediate crude for June delivery fell 81 cents, or 1.3%, to $62.50 a barrel. June Brent crude slid 86 cents, or 1.2%, to $70.78 a barrel.

U.S. consumer spending rebounded in March while the Federal Reserve’s preferred underlying inflation gauge eased to a one-year low. Purchases rose 0.9 percent in March from the prior month, topping estimates with the best gain in almost a decade, according to a Commerce Department report Monday. Personal income rose 0.1 percent in March, less than forecast.

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