Stock market gains kick off new trading week

U.S. stocks were higher Monday afternoon as investors focused on the retail sector’s earnings this week ahead of Federal Reserve Chief Executive Jerome Powell’s speech at an economic symposium in Jackson Hole on Friday.

Lowe’s will report its second-quarter earnings on Tuesday, while Target, Macy’s, TJX and Urban Outfitters will report their financial results on Wednesday. Peloton and Ross’s will report earnings on Thursday. Among technology companies, Palo Alto Networks, Snowflake and Zoom Video will also report earnings this week.

“These companies are unlikely to change the recent attitude of relief toward the state of the consumer, nor the continuing optimism about the future of artificial intelligence and how it will affect technology spending,” said Louis Navellier, president and founder of Navellier & Associates.