US stocks rise as investors turn attention to upcoming inflation data

Mon, 08/07/2023 - 09:49

trader nyse screens — : Traders work on the floor of the New York Stock Exchange (NYSE) on June 01, 2023 in New York City. Despite the passing the debt ceiling bill in the U.S. House of Representatives, the Dow was lower in morning trading.
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US stocks climbed on Monday as investors turn their attention to the upcoming July CPI report.
The inflation data will inform the Federal Reserve as to whether more interest rate hikes are needed.
The CME FedWatch Tool suggests the Fed is done hiking interest rates and will cut rates in March 2024.

US stocks moved higher on Monday as investors turn their attention to upcoming inflation data and whether that will impact the trajectory of the Federal Reserve's current interest rate trajectory.