Stocks rose again on Wall Street ahead of a high-stakes report that will hopefully show inflation hammered the economy less hard last month.
The S&P 500 climbed 1.1% Monday, while gains for tech companies pushed the Nasdaq up a bit more. Traders are making their final moves before a report on Tuesday that’s expected to show inflation slowed again during August. It likely won’t change minds at the Federal Reserve, which is preparing for another hefty hike to interest rates next week. A continued slowdown in inflation would give the Fed more of a chance of avoiding a scarring recession.
The S&P 500 rose 43.05 points, or 1.1%, to 4,110.41.
The Dow Jones Industrial Average rose 229.63 points, or 0.7%, to 32,381.34.
The Nasdaq rose 154.10 points, or 1.3%, to 12,266.41.
The Russell 2000 index of smaller companies rose 23.24 points, or 1.2%, to 1,906.09.
For the year:
The S&P 500 is down 655.77 points, or 13.8%.
The Dow is down 3,956.96 points, or 10.9%.
The Nasdaq is down 3,378.56 points, or 21.6%.
The Russell 2000 is down 339.23 points, or 15.1%.