Wall Street was slightly higher on Monday following an AI-led rally, while this week investors’ attention turned to economic data and inflation for clues to possible interest rate cuts by the Federal Reserve.
The release of the January PCE index – the Fed’s preferred inflation gauge – on Thursday could undermine the recent rally in stocks if the data indicates persistent price pressures.
A fairly strong forecast from chipmaker Nvidia last week fueled the euphoria around artificial intelligence (AI), pushing Wall Street to new highs and overshadowing the possibility of a delay in the start of the country’s monetary easing cycle. Fed.
The S&P 500 and Dow Jones hit record highs last week, while the Nasdaq came very close to its intraday peak reached in November 2021.
Traders this month postponed bets on the first interest rate cut since May to June after stronger-than-expected data on consumer and producer prices.
Data on durable goods, consumer confidence and manufacturing activity will also be on investors’ watch lists this week.
At 12:09 pm (Brasilia time), the Dow Jones index rose 0.22%, to 39,216.23 points, while the S&P 500 index gained 0.08%, to 5,092.75 points. The Nasdaq Composite technology index rose 0.05% to 16,004.90 points.
Source: Terra
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