by Shristi Achar A and Noel Randewich

(Reuters) – The New York Stock Exchange ended higher on Monday, thanks in part to gains by 3M and Goldman Sachs, at the start of a week that will be marked by key data on inflation and employment. provide guidance on the monetary policy of the US Federal Reserve (Fed).

The Dow Jones index gained 0.62% to 34,559.98 points.

The broader S&P-500 gained 0.63% to 4,433.31 points.

The Nasdaq Composite advanced for its part by 0.84% ​​to 13,705.13 points.

During Friday’s meeting in Jackson Hole, Wyoming, Fed Chairman Jerome Powell said the US central bank may need to raise interest rates further to ensure inflation is controlled.

Data scrutinized by the Federal Reserve to assess inflation, the personal consumption expenditure price index is expected Thursday, on the eve of data on non-farm payrolls.

Eight of the eleven major sectors of the S&P-500 rose, led by real estate and communication services.

Several high-growth stocks advanced, such as Nvidia, up 1.78%, and Apple and Alphabet which gained 0.9%. 3M jumped 5.2% after agreeing to pay more than $5.5 billion to settle some 300,000 lawsuits that the conglomerate supplied the US military with combat earplugs defective. Goldman Sachs rose 1.8% on the back of a deal with management firm Creative Planning LLC to sell it an investment advisory unit. Several Chinese companies listed on Wall Street, including JD.com, Baidu and Alibaba, gained more than 2% after Beijing halved stamp duty on Chinese stock trading to revive its stock market.

As US Commerce Secretary Gina Raimondo discussed concerns over restrictions on US tech companies, including Intel and Micron, during a visit to China, stocks of the two semiconductor makers rose.

( Jean Terzian)

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