Stocks drifted higher on Wall Street ahead of a week with updates on where inflation and corporate profits are heading.
The S&P 500 rose 0.2% Monday, coming off just its second losing week in the last eight. The Dow added 0.6% and the Nasdaq rose 0.2%.
This week will offer the latest monthly update on inflation, and Wall Street’s hope is that a continued slowdown will convince the Federal Reserve to soon stop hiking interest rates. At the end of the week companies will also start telling investors how much profit they made during the spring.
On Monday:
The S&P 500 rose 10.58 points, or 0.2%, to 4,409.53.
The Dow Jones Industrial Average rose 209.52 points, or 0.6%, to 33,944.40.
The Nasdaq composite rose 24.77 points, or 0.2%, to 13,685.48.
The Russell 2000 index of smaller companies rose 30.59 points, or 1.6%, to 1,895.25.
For the year:
The S&P 500 is up 570.03 points, or 14.8%.
The Dow is up 797.15 points, or 2.4%.
The Nasdaq is up 3,219 points, or 30.8%.
The Russell 2000 is up 134.01 points, or 7.6%.
Sourse: abcnews.go.com
