NEW YORK, Oct. 7 (Xinhua) -- U.S. stocks rebounded from earlier losses and turned positive at midday Monday as investors are awaiting Federal Reserve Chairman Jerome Powell's speech and a slew of key data.

At midday, the Dow Jones Industrial Average rose 2.73 points, or 0.01 percent, to 26,576.45. The S&P 500 gained 1.18 points, or 0.04 percent, to 2,953.19. The Nasdaq Composite Index climbed 8.77 points, or 0.11 percent, to 7,991.24.

Six of the 11 primary S&P 500 sectors rose in midday trading, with both materials and communication services up more than 0.5 percent, leading the advancers.

Powell is scheduled to speak on Tuesday at the U.S. National Association for Business Economics annual meeting.

Last week, a flurry of weak U.S. data raised hope for easier monetary policy from the Federal Reserve. Market expectations for a rate cut later this month were around 80 percent, according to the CME Group's FedWatch tool.

Investors are also keeping a close eye on the U.S. September consumer price index, the data highlight on Thursday.

In the week ending Oct. 4, U.S. stocks posted mixed weekly results, with the Dow and the S&P 500 down 0.9 percent and 0.3 percent, respectively, pressured by disappointing data. The Nasdaq delivered a 0.5-percent weekly gain. Enditem

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