US stocks mostly rise as markets await inflation data
NEW YORK, United States (AFP) — Wall Street stocks mostly rose early Monday as markets looked ahead to inflation data expected to influence Federal Reserve monetary policy.
Reports on producer prices and consumer prices will be among the last major data points before the Fed’s next interest rate decision on September 17. Weak labor market data on Friday boosted expectations for rate cuts.
About 15 minutes into trading, the Dow Jones Industrial Average was down 0.2 percent at 45,332.24.
The broad-based S&P 500 added 0.2 percent at 6,497.22, while the tech-rich Nasdaq Composite Index gained 0.7 percent to 21,848.23.
Adam Sarhan of 50 Park Investments said Wall Street was still in a “bull market,” but that the inflation data will be influential.
“Any data that can help give clues to investors on what the Fed’s next move will be, will definitely impact the market,” Sarhan said. “So investors are going to be looking for inflation data this week.”
