Stocks closed higher on Wall Street but remain largely stuck in a holding pattern ahead of potentially market-moving reports scheduled for later in the week.
The S&P 500 rose 0.7% Tuesday after flipping between gains and losses. The Nasdaq and the Dow also rose.
The next big marker for the market is likely Thursday’s update on how bad inflation was last month. A worse-than-expected reading could dash hopes on Wall Street that the Federal Reserve may stop its hikes to interest rates soon and perhaps even cut rates by the end of the year. Earnings reporting season kicks off Friday.
The S&P 500 rose 27.16 points, or 0.7%, to 3,919.25.
The Dow Jones Industrial Average rose 186.45 points, or 0.6%, to 33,704.10.
The Nasdaq rose 106.98 points, or 1%, to 10,742.63.
The Russell 2000 index of smaller companies rose 26.74 points, or 1.5%, to 1,822.65.
For the week:
The S&P 500 is up 24.17 points, or 0.6%.
The Dow is up 73.49 points, or 0.2%.
The Nasdaq is up 173.34 points, or 1.6%.
The Russell 2000 is up 29.85 points, or 1.7%.
For the year:
The S&P 500 is up 79.75 points, or 2.1%.
The Dow is up 556.85 points, or 1.7%.
The Nasdaq is up 276.15 points, or 2.6%.
The Russell 2000 is up 61.41 points, or 3.5%.