Stock market today: Wall Street edges higher ahead of bank earnings and Powell testimony this week

NEW YORK — Stocks are a bit higher in early trading on Wall Street, adding to the record highs they set last week. The S&P 500 was up 0.2% in the first few minutes of trading Monday. The Nasdaq edged up 0.1% and the Dow Jones Industrial Average was up 233 points, or 0.6%. Traders are looking ahead to several earnings reports this week including updates from Delta Air Lines on Thursday and JPMorgan, Citigroup and Wells Fargo on Friday.

Boeing ticked up about 1% in early trading Monday after the aerospace giant agreed to plead guilty to a criminal fraud charge stemming from two crashes of 737 Max jetliners that killed 346 people. The government determined the company violated an agreement that had protected it from prosecution for more than three years, the Justice Department said Sunday night.

Powell and other Fed officials will be tuned in to the latest government data on inflation coming on Thursday and Friday. While inflation has slowed in the past two years, it remains above the Fed's 2% target. Most experts are expecting one rate cut from the Fed this year, but not until September. The Fed holds its next policy later this month.

“That the left has become the strongest group in parliament raises serious concerns,” said Holger Schmieding, chief economist at Berenberg bank. “France is heading for a period of political uncertainty and – most likely – for fiscal problems and some reversal of President Emmanuel Macron’s pro-growth reforms. ”In Europe at midday, Germany’s DAX rose 0.4% and the FTSE 100 in London was up 0.3%.

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