08.09.202518:33:29UTC+00Wall Street Rises on Rate-Cut Hopes, Eyes Inflation Reports

U.S. equities mostly edged upward on Monday, as investors prepared for a series of significant economic reports, including two crucial inflation indicators that could influence the Federal Reserve's upcoming policy decisions. The S&P 500 experienced a modest increase of 0.2%, while the Nasdaq 100 gained 0.5%, nearing its previous peak from August, fueled by gains in chipmakers and major technology stocks. Meanwhile, the Dow Jones remained relatively stable.

The preceding week's underwhelming employment report for August, along with softer labor market figures, have bolstered expectations that the Federal Reserve might reduce interest rates at its September meeting. Market participants are increasingly factoring in the potential for a more substantial 50-basis-point cut. In light of these developments, investors are keenly anticipating the Producer Price Index (PPI) and Consumer Price Index (CPI) this week for new insights into the economic outlook.

Several individual stocks saw notable movements: Amazon advanced by 1.8%, Meta climbed 1.0%, Broadcom surged 3.0%, Nvidia rose 1.7%, and Oracle increased 2.7%. In addition, Robinhood Markets saw a substantial jump of 14.4%, and AppLovin rose 11.6%, following the announcement of their inclusion in the S&P 500 on September 22. Conversely, Apple experienced a slight decline of 0.1%, and T-Mobile fell by 3.3%.