(Reuters) – The New York Stock Exchange opened higher, with the technology sector driven by Tesla’s jump, as investors await the release of U.S. inflation figures later in the week for further clues on the trajectory of rates.

In early trading, the Dow Jones index gained 171.70 points, or 0.50% to 34,748.29 points and the broader Standard & Poor’s 500 rose 0.66% to 4,486.80 points.

The Nasdaq Composite gained 0.92%, or 126.91 points, to 13,888.43.

The publication of the consumer price index in the United States expected on Wednesday should provide additional elements on the capacity of the Federal Reserve (Fed) to suspend its interest rate increases and on the possibility of a landing in smoothness of the economy in the fight against inflation.

In a context of re-emergence of inflationary pressures, economists polled by Reuters expect an increase in consumer prices of 3.6% year-on-year in August, compared to 3.2% in July.

This data will be closely monitored, as investors, who estimate a 93% probability that the Fed will leave its rates unchanged next week, are less confident about the outcome of the November meeting.

“This could be a defining period for stocks as we know whether the rate hike cycle has truly come to an end or whether there is more work to do in the fight against inflation,” he said. Russ Mould, investment director at AJ Bell, said in a note.

In values, Tesla takes 5.2% and reaches a high of almost six weeks after Morgan Stanley estimated that the market capitalization of the group could increase by almost 600 billion dollars (559.4 billion euros) thanks to to the potential of its Dojo supercomputer.

Chipmaker Qualcomm