The S&P 500 ticked higher on Monday as investors gear up for a data-heavy week that includes two closely watched readings on inflation.
The Dow Jones Industrials settled 64.54 points to open Monday at 45,336.32.
The broader index recovered 13.21 points to 6,494.71.
The NASDAQ galloped 157.1, to 21,857.49.
Nvidia gained almost 2%, recovering some of its steep losses from the past month, while Meta Platforms gained more than 1%. Other “Magnificent Seven” names such as Amazon and Microsoft were also higher.
Investors are awaiting two critical inflation reports this week for more insight into the health of the economy, after weaker-than-expected hiring data on Friday.
The producer price index report for August is due out Wednesday morning, followed by the consumer price index on Thursday.
The data follows the lackluster August jobs report that helped fuel investor hope that the Federal Reserve is all but assured to lower benchmark interest rates at its policy meeting later this month. The jobs figures also raised the prospect of a half-point rate cut.
Prices for 10-year Treasury gained Monday, lowering yields to 4.05% from Friday’s 4.09%. Treasury prices and yields move in opposite directions.
Oil prices moved higher 17 cents to $62.04 U.S. a barrel.
Gold prices obtained $19.90 to $3,673.20 U.S. an ounce.
