The equity market rose on Monday as investors await retail earnings this week. The Dow Jones Industrial Average gained 0.5%, the S&P 500 rose 0.4%, and the Nasdaq Composite edged 0.6% higher. The S&P 500 is coming off its fourth straight one-week gain, marking its longest winning streak since 2021.
On the other hand, although the latest inflation data shows signs of easing price increases, inflation is still running near a 40-year high. According to Chicago Fed President Charles Evans, the Federal Reserve could raise policy rates to 3.25%-3.5% this year and to 3.75%-4% by the end of next year as it tries to tame the raging inflation.
