Stocks open slightly higher as investors await earnings, inflation data

The Dow Jones Industrial Average rebounded Tuesday following two straight losing days, led by technology stocks.

The blue-chip average added 75 points. The S&P 500 added 0.3%. The tech-heavy Nasdaq Composite rose 0.4%.

Chip stocks Like Nvidia and AMD gained. Other tech names Tesla and Netflix rose.

Shares of MGM Resorts rose after Credit Suisse upgraded the casino stock to outperform.

The International Monetary Fund on Tuesday cut its global growth forecast, citing supply chain challenges and persistent Covid spread.

"We're seeing major supply disruptions around the world that are also feeding inflationary pressures, which are quite high and financial risk taking also is increasing, which poses an additional risk to the outlook," IMF economist Gita Gopinath said in apress release.

The IMF said central banks like the Federal Reserve should be prepared to tighten monetary policy if inflation runs too hot.

JPMorgan Chase and other big banks are about to kick off the third-quarter earnings season later this week.