by Caroline Valetkevitch

NEW YORK (Reuters) – The New York Stock Exchange ended slightly higher on Monday, rebounding from last week’s losses, amid caution as investors looked to this week’s US consumer price data. States and the start of the earnings season.

The Dow Jones Industrial Average gained 0.62%, or 209.52 points, to 33,944.40 points.

The broader S&P-500 gained 10.58 points, or 0.24%, to 4,409.53 points.

The Nasdaq Composite advanced for its part by 24.77 points (0.18%) to 13,685.48 points.

Investors are waiting to know if the monthly report on consumer prices in the United States, due on Wednesday, will show a further deceleration in the rise in prices.

This data could serve as an indication of the monetary policy of the Federal Reserve (Fed), which will meet at the end of the month. Many traders expect the US central bank to hike rates by 25 basis points, after pausing in June.

Several Federal Reserve officials are scheduled to speak this week, comments that will be scrutinized by investors.

San Francisco Fed President Mary Daly said Monday that two more rate hikes would likely be needed to counter inflation, but that cycle of monetary tightening was coming to an end.

“The market is obviously ready for the start of the earnings season” in the second quarter, but investors are also very focused on consumer prices and on the horizon for rates, commented Quincy Krosby, chief strategy officer of LPL Financial, in Charlotte, North Carolina.

As several major U.S. banks unofficially kick off earnings season this week, analysts expect earnings for S&P-500 companies to fall 6.4% year on year, according to IBES data. by Refinitiv.

On the stock side, among notable moves, semiconductor makers Intel and Qualcomm ended higher after US Treasury Secretary Janet Yellen said over the weekend that her visit to Beijing resulted in meetings “direct” and “productive” with senior Chinese officials.

( Jean Terzian)

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