Wall Street kicks off big retail earnings week on high note

REUTERS: Wall Street's main indexes opened higher on Monday as retailers prepared to wind down a better-than-feared quarterly earnings season, while the S&P 500 continued to hover just below record-high levels.

Home improvement chains such as Lowe's Cos Inc and Home Depot Inc are expected to have received a bump to sales from consumers looking to do minor repair work while spending more time at home due to the pandemic. Figures this week are likely to show another jump in housing starts, as certain facets of the economy slowly grind back from a pandemic-driven trough.

At 9:38 a.m. ET, the Dow Jones Industrial Average was up 7.40 points, or 0.03per cent, at 27,938.42 and the S&P 500 was up 11.04 points, or 0.33per cent, at 3,383.89. The Nasdaq Composite was up 70.19 points, or 0.64per cent, at 11,089.49. Shares of Chinese ecommerce player Alibaba Group were flat after U.S. President Donald Trump said on Saturday he could exert pressure on more Chinese companies after he moved to ban TikTok earlier in the month.

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