Wall Street rises before tech earnings and Fed decision

Wall Street stocks rose early on Monday as investors looked ahead to a busy week of major technology company earnings and a US Federal Reserve decision on whether to raise interest rates again.

About 10 minutes into trading, the Dow Jones Industrial Average was up 0.4 percent at 52,424.33 points. The S&P 500 also rose 0.4 percent to 7,652.82 points, while the Nasdaq Composite Index added 0.5 percent to 26,070.88 points.

Alphabet, Amazon and Microsoft are among the major companies due to report earnings this week. Investors pulled back from major technology stocks last week amid worries that large artificial intelligence infrastructure spending may not pay off.

Meta said Monday it planned to raise at least $35 billion through stock offerings to fund development of its AI technology. Anthropic also made public plans to sell shares on the stock market, with its filing showing rapidly growing sales and listing investor risks.

Investors were also watching the Fed's rate decision on Wednesday. Markets largely expect the US central bank to hold rates steady this week, while more rate rises remain expected later to fight inflation.

Sam Stovall of CFRA Research told AFP that US markets were trading in reaction to daily news rather than broader trends. He said he did not expect the Fed to raise rates this week.