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* Yellow tumbles after filing for bankruptcy protection

* Berkshire climbs on record operating profit

* Tyson Foods falls after missing sales estimates

* Tesla down after CFO steps down

* Indexes up: Dow 1.13%, S&P 0.74%, Nasdaq 0.3%

Aug 7 (Reuters) -

Wall Street advanced on Monday, shaking off some early choppiness after last week's subdued performance, as investors added positions ahead of Thursday's highly awaited U.S. inflation report.

The main stock indexes ended last week lower with investors taking profits after months of gains due to worries over economic data, mixed earnings and rising Treasury yields.

U.S. stocks have sharply rallied in 2023, with the benchmark S&P 500 clocking 17% gains year to date, fueled by optimism around artificial intelligence and hopes of a soft landing for the world's largest economy.

The U.S. consumer price data on Thursday could offer cues to the Federal Reserve's monetary policy path, after an employment report on Friday re-ignited fears that the central bank could keep rates higher for longer.

"In the last month's report, we saw the monthly print for CPI finally break into the downside with weaknesses seen in some parts of the goods market," said Charlie Ripley, senior investment strategist for Allianz Investment Management.

"But in the service side, it's been pretty sticky and that's one reason why it's taking a lot longer for inflation to subside."

New York Fed President John Williams, a voting member this year, said he expects interest rates could begin to come down in early 2024, as per a report, while Governor Michelle Bowman said additional interest rate hikes will likely be needed to lower inflation to the 2% target.

At 1.57 p.m. ET, the Dow Jones Industrial Average rose 397.27 points, or 1.13%, to 35,462.89; the S&P 500 gained 33.1 points, or 0.74%, at 4,511.13; and the Nasdaq Composite added 41.99 points, or 0.3%, at 13,951.23.

Should its gains hold, the tech-heavy Nasdaq could snap a four-session losing streak. To do so though, it would have to overcome weakness in Tesla, which dropped 2.2% after the electric vehicle giant named Vaibhav Taneja to replace Zachary Kirkhorn as its finance chief.

Most of the S&P's major indexes rose, led by communication services and financials.

Overall, second-quarter earnings have been better than expected so far, with 79.1% of the 422 S&P 500 companies that have reported as of Friday beating analysts' estimates, Refinitiv data shows.

Class B shares of Berkshire Hathaway gained 3.7% after the Warren Buffett-led conglomerate posted its highest-ever quarterly operating profit.

Sage Therapeutics sank 52.5%, while Biogen recovered to trade 0.6% higher, after the U.S. drug regulator declined to approve the companies' joint first-of-its-kind postpartum depression (PPD) pill.

Vaccine makers BioNTech SE and Moderna Inc slumped 7.8% and 7.1%, respectively. The former said it was cutting its drug development budget after quarterly revenue was hurt by a plunge in pandemic-related demand. The latter was hit by investment bank Leerink cutting its price target for the company.

Tyson Foods slid 5.6% after the meat packer disappointed Wall Street expectations for third-quarter revenue, as customers scaled back on meat purchases. Beyond Meat Inc fell 5.3% ahead of reporting earnings after the market close.

Yellow Corp, a nearly 100-year-old U.S. trucking firm, filed for Chapter 11 bankruptcy protection on Sunday, dragging its shares 16% lower.

(Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru and David French in New York; Editing by Saumyadeb Chakrabarty, Maju Samuel and Richard Chang)