US stocks rose Monday morning ahead of a busy week for investors, as key inflation data and the Federal Reserve’s final policy meeting of the year were highlights.
S&P 500 Index (^ The Salafist Group for Preaching and Combat(up 0.2% in early morning trade, while the Dow Jones Industrial Average rose)^ DJI) up 0.3%, or nearly 120 points. Nasdaq Technology Heavy Composite (^ ix) pushed forward by 0.1%.
The three major indices ended with losses during Friday’s trading session, capping that worst week shares since September. The S&P 500 is down 3.4% while the Dow is down 2.8%. The tech-heavy Nasdaq is down 4% for the week.
Investors They were watching the oil, too Early Monday, with WTI rising 0.8% to trade at $71.94 after crude settled at a new 2022 low on Friday.
Government bond yields also eased slightly, with the yield on the 10-year US Treasury note reaching around 3.523% early Monday, down 2 basis points from Friday’s settlement.
Wall Street is gearing up for a busy week, as consumer price data released on Tuesday is expected to help determine the expected path for interest rates over the coming months.
Economists surveyed by Bloomberg estimate that the core CPI will rise 0.3% for the second month in a row, with the CPI falling year-on-year from 7.7% to 7.3%.
The Fed will make its next rate decision on Wednesday at the conclusion of its two-day policy meeting, where investors expect a 0.5% increase in the Fed’s benchmark interest rate. Investors will be watching for any clues from the Federal Reserve and Chairman Jerome Powell on the path of interest rates going forward.
Scott Sperling, co-CEO of Thomas H. Yahoo Finance Live Friday. “And they may last longer than the market currently expects.”
in corporate news, Blue Twitter It’s set to relaunch Monday at an additional cost of nearly 30% for iPhone owners. The service still costs $8 per month, but it will be $11 for those who purchase services through the App Store.
Shares of Horizon Therapeutics Public Limited (HZNP) rose 14% on Monday after Amgen agreed to acquire the company in an all-cash deal worth $27.8 billion, making it the biggest healthcare merger of the year, according to to The Wall Street Journal.
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Danny Romero, Yahoo Finance correspondent. Follow her on Twitter @employee
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