The major averages crept higher to start the week with the Nasdaq Composite rising to a new record on Monday as investors gear up for a data-heavy week that includes two closely watched readings on inflation. The Dow Jones Industrial Average rose 114 points, or 0.25%. The S&P 500 rose 13 points or 0.21% while the tech-heavy Nasdaq gained 98 points or 0.45%.

Investors are awaiting two critical inflation reports this week for more insight into the health of the economy, after weaker-than-expected hiring data on Friday. The producer price index report for August is due out Wednesday morning, followed by the consumer price index on Thursday.

The benchmark 10-year Treasury yield fell 4 basis points to 4.04%. The 2-year Treasury yield

 was a basis point lower to 3.49%. The 30-year Treasury yield dropped more than 8 basis points to 4.68%.

Tech once again led the rally with software in the limelight. Oracle was up nearly 3% while Palantir, IBM, ServiceNow, Adobe and CrowdStrike rose over 2%. In the chip space, Nvidia was up a percent on positive sales news to China.

Tech stock, AppLovin rose 14% as they and Robinhood will be added to the S&P 500. Robinhood rose 15%. Financials were mixed today.

The dogs were in the telecom space with AT&T, Verizon and T-Mobile lower by 2% or more.

Healthcare was mixed. UnitedHealth Group was up a percent after reaffirming guidance.

In the commodity space, oil was higher even as OPEC+ rose output. Gold and bitcoin and the cryptocurrencies were higher as well.

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