Stock market today: US stocks edge higher ahead of key signals on inflation, economy
US stocks rose slightly on Monday, as Wall Street braced for a week full of key economic data signals.
The S&P 500 (
^GSPC
) and the Nasdaq Composite (
^IXIC
) popped about 0.3%. Meanwhile, the Dow Jones Industrial Average (
^DJI
) was higher by less than 0.2%.
Wall Street is
coming off a whipsaw week
that has left markets jumpy and "on edge." Though the major indexes practically
ended last week where they had started
, it didn't come without volatility throughout the week.
Strategists say that is likely to continue — and
this week comes with plenty
of opportunities. Wednesday provides a fresh look at the state of inflation with the latest release of the Consumer Price Index. Then Thursday comes with two key signals on the state of the US consumer: a reading on July's retail sales and Walmart (
WMT
) earnings.
Wall Street once again
sees good news as good news
, so its volatility this week may depend on the signals those data introduce.
Either way, though, markets are seeing a slowing economy, which has shifted debate from whether the Federal Reserve should cut interest rates in September to how much they should cut them. A small majority of traders expects a 25-basis-point cut next month, while the balance — around 48% — see a bigger, 50-basis-point cut coming.