{"id":21545,"date":"2023-06-12T11:47:57","date_gmt":"2023-06-12T15:47:57","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/u-s-stocks-edge-higher-ahead-of-this-weeks-inflation-data-fed-decision\/"},"modified":"2023-06-12T11:47:59","modified_gmt":"2023-06-12T15:47:59","slug":"u-s-stocks-edge-higher-ahead-of-this-weeks-inflation-data-fed-decision","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=21545","title":{"rendered":"U.S. stocks edge higher ahead of this week\u2019s inflation data, Fed decision"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002163706\" role=\"document\">\n<p>U.S. stocks edged higher Monday, as traders eyed crucial inflation data and central bank decisions in coming sessions to see if equities can continue a rally that saw the S&amp;P 500 last week exit its longest bear market since 1948.<\/p>\n<h2>What\u2019s happening<\/h2>\n<ul class=\"articleList\">\n<li>\n      The Dow Jones Industrial Average<br \/>\n        DJIA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598065\/realtime\" class=\"positive\">+0.12%<\/bg-quote><br \/>\n       rose 55 points, or 0.2%, to 33,933.<\/p>\n<\/li>\n<li>\n      The S&amp;P 500<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"positive\">+0.32%<\/bg-quote><br \/>\n       rose 7 points, or 0.2%, to 4,306.<\/p>\n<\/li>\n<li>\n      The Nasdaq Composite<br \/>\n        COMP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598365\/realtime\" class=\"positive\">+0.72%<\/bg-quote><br \/>\n       was up 51 points, or 0.4%, at 13,311.<\/p>\n<\/li>\n<\/ul>\n<p>The S&amp;P 500 rose 0.4% last week to end Friday at its highest since Aug. 16. The Dow saw a weekly gain of 0.3%, while the Nasdaq Composite edged up 0.1%.<\/p>\n<div class=\"paywall\">\n<h2>What\u2019s driving markets<\/h2>\n<p>Stock looked to extend their recent rally Monday \u2014 though the positivity was tinged with caution ahead of a week stuffed with potential tripwires.<\/p>\n<p>The S&amp;P 500 finished Friday at its highest close in 10 months, having enjoyed a four-week winning streak as investors became more hopeful that the U.S. economy can avoid a sharp economic slowdown as easing inflation allows the Federal Reserve to pause monetary-tightening cycle. Earlier in the week, the large-cap benchmark met the criteria for exiting a bear market, as it finished more than 20% above its October closing low.<\/p>\n<p>That bullish narrative will be put to the test in the coming days. <\/p>\n<p>The consumer-price index for May will be published on Tuesday. Investors will be hoping to see annual CPI inflation \u2014 which hit a 40-year high of 9.1% last June and dropped to 4.9% in this April \u2014 fall further, with economists forecasting a dip to 4%.<\/p>\n<p>Such a decline would likely cement the market\u2019s expectations that the Fed will leave interest rates unchanged at a range of 5% to 5.25% after the conclusion of its meeting on Wednesday.<\/p>\n<p>However, analysts noted that recent moves by other central banks mean traders should take nothing for granted.<\/p>\n<p>\u201cAfter a week highlighted by surprise rate hikes from the [Reserve Bank of Australia] and [Bank of Canada], investors could be hawkishly absorbed ahead of a bonanza of central bank meetings this week,\u201d said Stephen Innes, managing partner at SPI Asset Management.<\/p>\n<p><strong>See: <\/strong>How a hawkish Fed could kill a baby bull-market rally in U.S. stocks<\/p>\n<p>And there are also announcements to navigate from the European Central Bank on Thursday and the Bank of Japan on Friday. The former is expected to raise rates by another 25 basis points and the latter is forecast to stand pat.<\/p>\n<p><strong>Also read:<\/strong> Fed will keep raising rates, even if it skips a June hike<\/p>\n<p>Still, for now, traders seem pretty relaxed. The CBOE VIX<br \/>\n        VIX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598281\/delayed\" class=\"positive\">+4.19%<\/bg-quote><br \/>\n       index, an option-based gauge of expected S&amp;P 500 volatility, sits at 14.4, near its lowest since early 2020. <\/p>\n<p>And the CBOE equity put\/call ratio has dropped to 0.50, its lowest in a year as traders increase their relative purchases of bullish bets.<\/p>\n<p>\u201cInvestors are flocking into call options because no one wants to miss a further rally in stock markets, but no one is sure that the rally will continue given the fact that the Fed has hiked rates at a record speed since last year, leading to the failure of a couple of U.S. regional banks on the way,\u201d said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. <\/p>\n<p>There\u2019s not much in the way of top-tier economic data on the slate Monday, though the federal budget report for May will be published at 2 p.m. Eastern time.<\/p>\n<h2>Companies in focus<\/h2>\n<ul class=\"articleList\">\n<li>\n      <strong>Tesla Inc. <\/strong><br \/>\n        TSLA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203558040\/lastsale\" class=\"positive\">+1.10%<\/bg-quote><br \/>\n       shares rose 1.5%, on track for a 12th straight daily gain. That would break the previous record winning streak off 11 gains, which ended Jan. 8, 2021, and was matched on Friday. The electric-vehicle giant\u2019s stock has run up 33.6% over the past 11 days, compared with a 37.4% gain during the January 2021 streak.<\/p>\n<\/li>\n<li>\n      Shares of <strong>Nasdaq Inc. <\/strong><br \/>\n        NDAQ,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/205547889\/lastsale\" class=\"negative\">-13.16%<\/bg-quote><br \/>\n       dropped 9.9% after the securities-trading, -clearing and -listing company announced an agreement to buy software company Adenza for $10.5 billion in cash and stock from Thoma Bravo.\u00a0<\/p>\n<\/li>\n<\/ul><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/u-s-stock-futures-flirt-with-fresh-highs-ahead-of-inflation-data-fed-decision-dad857a3?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stocks edged higher Monday, as traders eyed crucial inflation data and central bank decisions in coming sessions to see if equities can continue a rally that saw the S&amp;P 500 last week exit its longest bear market since 1948. What\u2019s happening The Dow Jones Industrial Average DJIA, +0.12% rose 55 points, or 0.2%, to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21546,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-21545","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. stocks edge higher ahead of this week\u2019s inflation data, Fed decision | iFintechWorld<\/title>\n<meta name=\"description\" content=\"U.S. stocks edged higher Monday, as traders eyed crucial inflation data and central bank decisions in coming sessions to see if equities can continue a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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