Wall St bounces as focus shifts to rates outlook ahead of inflation data
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
Boeing jumps after reaching tentative labor deal
Dell, Palantir rise as stocks to be added to S&P 500
Indexes up: Dow 0.90%, S&P 500 0.61%, Nasdaq 0.44%
Updated at 11:26 a.m. ET/1526 GMT
By Shubham Batra and Shashwat Chauhan
Sept 9 (Reuters) -Wall Street's main stock indexesrose onMonday, rebounding from a week of steep lossesas focus shifted back to the extent of interest rate cuts by the Federal Reserve in 2024 and thecrucial inflation report later in the week.
Most megacap and growth stocks rose after falling sharply last week, while Apple AAPL.O slipped over 1% ahead of the company's "It's Glowtime" event where it will likely unveil a series of new iPhones and updates to other devices and applications.
Apple's event could be upstaged by Huawei HWT.UL that has a scheduled announcement of its Mate XT phone - a triple-folding smartphone - just hours later.
Ten of the eleven S&P 500 sectors were trading higher, with industrials .SPLRCI and financials .SPSY rising around 1.5% each.
Global markets were rattled last week as uncertainty over the U.S. economy's health rippled across assets, adding fuel to an already volatile period that has investors grappling with a shift in the Federal Reserve's policy and worries over stretched valuations.
Friday'sweaker-than-expected August jobs data spurred worrieson economic growth, drivingthe Nasdaq Composite .IXIC to its worst week since January 2022, while the S&P 500 .SPX saw its biggest weekly drop since March 2023.
Markets will be squarely focused on U.S. consumer prices data on Wednesday that is expected to show a moderation in headline inflation in August to 2.6% on a yearly basis, while on a monthly basis it is expected to remain unchanged at 0.2%.
"The idea is that whatever they do, the communication from the Fed is going to be, look, this is the start of an easing cycle that's going to get us more towards neutral," said Steve Wyett, chief investment strategist at BOK Financial.
"My sense is they'd rather do 25 basis points (rate cut) at a time because that's obvious given that growth is remaining relatively positive."
The CPI report will be followed by producer prices data on Thursday.
Money markets currently see a 71% chance of a 25-basis-point rate reduction by the Fed next week and expect a total monetary easing of 100 bps by the end of the year, according to CME's FedWatch Tool.
Debate between Democrat Kamala Harris and Republican Donald Trump on Tuesday - the first time ahead of the presidential election on Nov. 5 - will be closely eyed by the investors.
At 11:26 a.m. ET, the Dow Jones Industrial Average .DJI rose 361.73 points, or 0.90%, the S&P 500 .SPX gained 33.24 points, or 0.61%, and the Nasdaq Composite .IXIC gained 74.15 points, or 0.44%.
Among other individual movers, Boeing BA.N advanced 3.6%after the planemaker and its biggest unionreached a tentative deal covering more than 32,000 workers, averting a possible strike.
Dell Technologies DELL.N and Palantir PLTR.N rose 4.6% and 11.6% respectively, while Erie ERIE.O climbed 1.2% as they are set to join the S&P 500 index on Sept. 23.
These companies will replace American Airlines Group AAL.O, Etsy ETSY.O and Bio-Rad Laboratories BIO.N, respectively, in the index.
Advancing issues outnumbered decliners by a 2.14-to-1 ratio on the NYSE and by a 1.82-to-1 ratio on the Nasdaq.
The S&P 500 posted 15 new 52-week highs and three new lows, while the Nasdaq Composite recorded 29 new highs and 137 new lows.
U.S. economy and markets in run-up to Fed meeting https://tmsnrt.rs/3TmLfc7
Reporting by Shubham Batra and Shashwat Chauhan in Bengaluru; Editing by Sherry Jacob-Phillips and Maju Samuel
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
