U.S. stocks rose early Monday, on track for a fourth consecutive day of gains, as traders look ahead to inflation data later in the week.
How are stocks trading Major indexes on Friday snapped a streak of three straight weekly declines. The Dow posted a 2.7% weekly rise, while the S&P 500 rose 3.7%, and the Nasdaq Composite advanced 4.1%.
The latest equity rebound, with the S&P 500 up 4.1% since last Tuesday’s close, suggests investors now appear comfortable with the prospect of a 75 basis point interest rate rise by the Federal Reserve at the conclusion of its meeting on September 21. “The latest market optimism could be explained by hope to see a second month of softening inflation in the U.S. at this week’s CPI release,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank in a morning note.
Jonathan Krinsky, chief market technician at BTIG, noted that technical factors had helped sentiment but that gains may prove fragile given seasonal headwinds and if the dollar and bond yields did not continue to retreat.
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