The First Slice for Tuesday, September 13, 2022

U.S. stocks finished with a fourth consecutive day of gains on Monday, handing the S&P 500 and Nasdaq Composite their longest winning streak in two months, as traders prepare for August’s inflation data to show signs of easing price gains.

  • The Dow ended up +229.63 or +0.71%
  • The S&P 500 closed up +43.05 or +1.06%
  • The Nasdaq finished up +154.10 or +1.27%

The upbeat mood from the last handful of days carried over into Monday’s session, which included positive stock-index closes in Europe. 

The latest equity rebound, with the S&P 500 up 5.2% since last Tuesday’s close, suggests investors now appear comfortable with the prospect of a 75 basis point interest rate rise by the Federal Reserve at the conclusion of its meeting on Sept. 21.

There is also hope among bulls that the August U.S. consumer prices report due Tuesday will show a negative reading month-on-month, helping cement expectations that inflation has peaked and the Fed is unlikely to hike borrowing costs beyond the 4% level currently priced by markets. Producer price data will be released on Wednesday………Click here to read the source article[read more]

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