Investors were awaiting crucial data on consumer and producer prices, as well as retail sales figures due later in the week.
Wall Street continued its rise this Monday led by tesla in the field of actions megacapitalizationwhile investors eagerly awaited data from inflation that would be published during the week, in search of clues about the direction of the interest rates of the Federal Reserve US.
In that context, the Dow Jones Industrial Average It advances 156.55 points, 0.2%, standing at 34,628.62 units. The index S&P 500 It also shows an increase of 0.4%, reaching 4,473.72 units. For his part, the Nasdaq Composite it gains 0.7%%, reaching 13,857.11 units.
As Ámbito reported, Tesla is experiencing impressive growth of more than 6% after Morgan Stanley upgrade its stock rating to “overweight.” The firm argued that the Dojo supercomputer, developed by electric vehicle manufacturercould increase the company’s market value by almost $600 billion.
Other mega-cap companies, such as Alphabet, Microsoft and Amazonalso experienced increases in their shares, ranging between 0.4% and 1.1%.
Investors were awaiting crucial data on consumer and producer prices, as well as retail sales figures due to be released later in the week.
Hugh Anderson of HighTower Advisors commented: “We expect inflation figures to remain at least stable, if not higher, compared to the steady decline we have seen since last year. I expect at least an additional increase, but that would be a best-case scenario. We certainly do not anticipate cuts, and we do not foresee cuts on the horizon, unless there is a drastic decrease in employment“.
The market’s attention was firmly focused on these key indicatorsas investors sought guidance on the Federal Reserve’s future monetary policy.
Source: Ambito
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