As investors prepared for a busy week of earnings and speculated about a likely delay in rate increases from the Federal Reserve, stocks increased on Monday.
The S&P 500 gained 0.6%, while the Dow Jones Industrial Average increased by 88 points, or 0.26%. Gains in technology and semiconductor stocks helped the Nasdaq Composite rise 1.1%.
Investors considered the prospect that the Fed may be getting ready to sluggishly increase interest rates in order to combat inflation. Retail sales and wholesale prices fell, according to economic data released last week, and central bank officials’ comments appeared to indicate a slowdown.
Federal Reserve Governor Christopher Waller’s comments Apparently favoring a quarter-point rate increase at the upcoming meeting on Friday gave investors hope for a downturn. A Wall.
Source (CNBC)
