NEW YORK, Oct 28 — Wall Street stocks climbed early today, extending an upward trend in a positive week despite weak Amazon results and another report showing persistent US inflation.

Major indices are on track for weekly gains based on hopes that the Federal Reserve could soon pivot from its aggressive policy to counter inflation.

Data today showed the personal consumption expenditures price index, rose 6.2 per cent from a year ago in September, the same rate as the month before and a level that reflects surging prices for groceries and other staples.

The report is "largely in-line with expectations" and "unlikely to prompt the Fed to reconsider its aggressive rate hike plans," said Briefing.com analyst Patrick O'Hare.

About 45 minutes into trading, the Dow Jones Industrial Average was up 1.3 per cent at 32,456.47.

The broad-based S&P 500 gained 0.8 per cent to 3,838.07, while the tech-rich Nasdaq Composite Index advanced 0.6 per cent to 10,855.99.

Amazon became the latest tech giant to report disappointing results, plunging 10.7 per cent based on a weak forecast.

But Apple surged 5.9 per cent after reporting better-than-expected results, while oil giants ExxonMobil and Chevron both advanced after reporting blowout profits on lofty oil and natural gas prices. — AFP