US stocks rise at start of heavy earnings week

NEW YORK: Wall Street stocks rose early Monday at the start of week jam-packed with corporate earnings reports and US economic data releases.

About 10 minutes into trading, the Dow Jones Industrial Average was up 0.3 percent at 24,524.98.

The broad-based S&P 500 gained 0.2 percent to 2,675.75, while the tech-rich Nasdaq Composite Index rose 0.3 percent to 7,170.21.

Companies in the S&P 500 are projected by analysts to earn 18.3 percent more in the first quarter compared with the year-ago period, according to FactSet.

This week's calendar includes Google parent Alphabet, Boeing, ExxonMobil and Coca-Cola. Major economic releases include an estimate of first-quarter US growth and April consumer confidence.

Analysts have fixated on rising US Treasury yields, with the yield on the 10-year bond approaching three percent, seen as evidence of the market's rising worries that inflation could coax the Federal Reserve to boost interest rates faster than expected.

Among individual companies, Hasbro dropped 2.9 percent after the toymaker reported a loss of $112.5 million following a fall in revenues. Hasbro cited the drag from the liquidation of chain Toys "R" Us.