(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window.)

*

Tesla gains after Musk says will unveil Robotaxi in August

*

Crypto stocks rise, tracking higher bitcoin prices

*

Indexes up: Dow 0.10%, S&P 0.13%, Nasdaq 0.24%

(Updated at 11:30 a.m. ET/ 1530 GMT)

By Shashwat Chauhan and Shristi Achar A

April 8 (Reuters) -

Wall Street's main stock indexes advanced in choppy trading

on Monday after Treasury yields retreated from session highs,

while investors awaited data and commentary from the Federal

Reserve's policymakers to gauge its rate outlook.

U.S. stocks recorded weekly losses on Friday as traders

scaled back expectations on the timing of rate cuts. They now

see an around 51% chance of the Fed announcing its first rate

cut in June, according to the CME FedWatch Tool, down from about

58% at the beginning of last week.

Hawkish commentary from central bank officials last week and

stronger-than-expected manufacturing and jobs reports pointed to

a resilient U.S. economy, easing the pressure on the Fed to cut

interest rates quickly.

The market also pared back expectations of more than three

rate cuts this year, from between three and four a few weeks

ago, according to LSEG data.

"The data firmly supports that with stable inflation and the

above trend growth that we've seen, there's becoming less and

less of a need for any sort of immediate cuts," said Mike

Dickson, head of research at Horizon Investments.

The yield on 10-year Treasury notes rose to its

highest level since last November earlier in the session. It

later pared some gains and was last at 4.4339%.

Market focus now shifts to the March reading of the U.S.

Consumer Price Index, due later in the week, that is expected to

show a rise in headline inflation to 3.4% year-on-year, from

3.2% in February.

Also on the radar is the release of minutes from the Fed's

latest meeting, where it stuck to its guidance of three rate

cuts in 2024.

Investors await commentary from Chicago Fed President Austan

Goolsbee and his Minneapolis counterpart Neel Kashkari later in

the day for policy cues.

First-quarter earnings season picks up pace now, with

banking giants JPMorgan Chase ( JPM ), Citigroup ( C/PN ) and Wells

Fargo ( WFC ) scheduled to report later in the week.

"In an environment where you've got higher rates, it makes

earnings growth even more important, and expectations for

earnings growth are fairly elevated," Dickson said.

Meanwhile, Wells Fargo ( WFC ) raised its year-end target for the

benchmark S&P 500 index to 5,535 - the highest among Wall

Street brokerages - from its previous forecast of 4,625​.

Leading gains across megacap growth stocks, Tesla

rose 5.2% after CEO Elon Musk said the company would unveil the

Robotaxi on Aug. 8.

At 11:30 a.m. ET, the Dow Jones Industrial Average

was up 39.32 points, or 0.10%, at 38,943.36, the S&P 500

was up 6.92 points, or 0.13%, at 5,211.26, and the Nasdaq

Composite was up 39.14 points, or 0.24%, at 16,287.66.

Eight of the 11 S&P 500 sectors advanced, with consumer

discretionary leading gains, while health care

lagged.

Cryptocurrency-related stocks gained, tracking rising

bitcoin prices. Exchange operator Coinbase Global ( COIN ) and

software firm MicroStrategy ( MSTR ) added 6.2% and 5.5%,

respectively.

Advancing issues outnumbered decliners by a 2.11-to-1 ratio

on the NYSE and by a 1.63-to-1 ratio on the Nasdaq.

The S&P index recorded 19 new 52-week highs and two new

lows, while the Nasdaq recorded 58 new highs and 59 new lows.

(Reporting by Shashwat Chauhan and Shristi Achar A in

Bengaluru; Editing by Anil D'Silva and Pooja Desai)