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Stock market today: Stocks edge higher as S&P 500, Nasdaq try to build on records

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Nasdaq Composite News

Interest Rates,Federal Reserve

A consequential week that could provide key signals for the near-term path of interest rates.

US stocks nudged up early Monday ahead of a consequential week that could provide key signals for the near-term path of interest rates. The S&P 500 rose 0.2%, while the tech-heavy Nasdaq Composite was up 0.1% after each index notched its latest record on Friday. The Dow Jones Industrial Average jumped about 0.5%. The S&P and Nasdaq are looking to build on records secured in the wake of Friday's jobs report, which signaled continued cooling in the labor market.

Fed Chair Jerome Powell is set to appear in Congress for semiannual testimony Tuesday and Wednesday. Then comes the latest Consumer Price Index print, set for release on Thursday. Economists expect headline inflation rose 3.1% over the last year, which would match the lows where the CPI started the year. In other market-moving events, a left-wing coalition in France garnered the most votes in the country's election, stunning a far-right that was hoping to secure a parliamentary majority.

 

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