Stocks increased on Monday as traders prepared for a busy week of earnings and speculated about a likely halt in Federal Reserve rate increases.
The S&P 500 gained 1%, while the Dow Jones Industrial Average increased by 266 points, or 0.8%. Powered by advances from technology and semiconductor firms, the Nasdaq Composite rose 1.5%.
Investors considered the potential that the Fed is going to decrease the rate at which it raises interest rates to combat inflation. Retail sales and wholesale prices fell last week, and central bank officials’ comments and the economic statistics combined to seem to indicate a slowdown.
Governor of the Fed Christopher Waller’s comments Investors’ expectations for a downturn were raised by the fact that Friday appeared to favor a quarter-point rate increase at the following meeting. A Wall.
Source (CNBC)
