US stocks jumped to record highs ahead of key economic data releases this week.
by Matthew Fox
Business Insider
US stocks jumped to record highs on Monday ahead of key economic data scheduled for this week.
Investors will be keenly focused on the June consumer price index report on Thursday, with Core CPI expected to rise 3.1% year-over-year, compared to May’s CPI report of 3.3%.
More inflation data will be released on Friday with the release of the June PPI report, which is expected to rise 0.1% on a month-over-month basis.
The new inflation data will help inform investors and the Federal Reserve about the path of interest rates for the rest of this year. Current market forecasts suggest the Fed’s September FOMC meeting will bring the first rate cut.