(Reuters) – The New York Stock Exchange opened higher on Monday, the first day of a week rich in economic data that could provide insight into the U.S. Federal Reserve’s upcoming rate decisions in September.

In early trading, the Dow Jones index gained 68.54 points, or 0.17%, to 39,566.08 points, and the broader Standard & Poor’s 500 rose 0.24% to 5,356.96 points.

The Nasdaq Composite gained 0.25%, or 41.93 points, to 16,787.23.

The publication of a poor July employment report in the United States triggered a wave of panic on the markets last week, with investors worried about the American economic slowdown.

The rebound in the yen has also contributed to increasing the price of a source of financing widely used by managers, triggering massive sales in order to cover commitments in the Japanese currency.

The last two sessions of the week nevertheless allowed the S&P 500 and the Nasdaq to erase most of their losses.

Markets are expected to remain cautious ahead of the release of US CPI inflation for July on Wednesday, a key indicator of the Fed’s monetary policy path.

Traders believe a cut of at least 25 basis points at the next meeting is certain, giving a 50 basis point cut a 50 basis point chance.

The July retail sales report will also be in focus, with any weakness in the data likely to revive fears of a slowdown in consumption and a recession.

Results from retail giants such as Walmart and Home Depot will also provide clues about U.S. consumer spending.

In stocks, Starbucks gained 2.4%, as the Wall Street Journal reported that activist investor Starboard Value had a stake in the company.

Barrick Gold rose 5.1% after beating expectations for second-quarter profit.

(Written by Augustin Turpin, edited by Kate Entringer)

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