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Stock market today: Dow, S&P 500 eke out record closes as stocks extend September rally

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Federal Reserve Nieuws

Jerome Powell,Nasdaq Composite,Winning Streak

The focus is on Fed speakers and a key inflation reading for insight into whether another big rate cut is coming.

US stocks rose Monday, as the Dow Jones Industrial Average and S&P 500 eked out record closes, extending a winning streak on Wall Street. Investors looked to Federal Reserve speakers and a key inflation reading for clues to the odds of another big rate cut. The Dow rose more than 0.1% after closing at an all-time high on Friday. The S&P 500 edged up more than 0.2% to finish at its own record. The tech-heavy Nasdaq Composite climbed 0.1%.

Read more: What the Fed rate cut means for bank accounts, CDs, loans, and credit cards Much will depend on Friday's reading on the PCE index — the Fed's preferred inflation gauge — and Thursday's second quarter GDP print. Experts believe that cooling inflation, not a rising risk of recession, will give policymakers the green light for another 0.5% cut this year. Investors received more policy insight from Fed officials on Monday morning.

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