Stocks traded higher Monday as investors looked ahead to U.S. inflation data later in the week and pondered what influence the consumer price index and producer price index readings will have on monetary policy from the Federal Reserve.Tesla rose 9.8% to $272.81 after shares of the electric-vehicle maker were upgraded to Buy from Hold by Morgan Stanley analyst Adam Jonas, who also boosted the stock’s price target to a Wall Street high of $400 a share, up from $250.
Carvana rose 6.8% after S&P Global Ratings upgraded its credit rating on the user-car seller to CCC+ from D. Kenvue was up 3.9% to $212.13. Shares of the company, which sells such products as Band-Aid, Listerine, Neutrogena, and Tylenol, were upgraded to Buy from Hold at Deutsche Bank and the price target was left unchanged at $27.
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