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US stocks inch higher ahead of economic reports

July 29, 2014

NEW YORK (AP) — The stock market is edging higher in early trading ahead of a string of U.S. and Chinese economic reports later this week.

The Dow Jones industrial average rose 29 points, or 0.2 percent, to 17,011 on Tuesday. The Standard & Poor’s 500 climbed two points, or 0.1 percent, to 1,981. The Nasdaq gained nine points, or 0.2 percent, to 4,454.

The U.S. releases gross domestic product figures for the April-June quarter on Wednesday. The world’s largest economy is expected to pick up after a severe winter dampened growth.

The Federal Reserve issues a statement after wrapping up a two-day policy meeting on Wednesday. On Thursday, a report on China’s manufacturing will give investors an update on the health of the world’s second-largest economy. On Friday, the U.S. releases jobs data.

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