(Reuters) – The New York Stock Exchange opened higher on Monday after a week of heavy losses as investors remained optimistic about a soft landing for the U.S. economy ahead of inflation data later in the week.

In early trading, the Dow Jones index gained 243.90 points, or 0.60%, to 40,589.31 points, and the broader Standard & Poor’s 500 rose 0.73% to 5,447.81 points.

The Nasdaq Composite gained 0.87%, or 145.99 points, to 16,836.82 points.

Stock indices are rebounding after suffering heavy losses in previous sessions due to uncertainty over the health of the U.S. labor market.

U.S. employment figures released Friday offered a mixed picture: job creation fell short of expectations but the unemployment rate fell, a contradictory reading that failed to provide the answer investors expected about the depth of the Federal Reserve’s first interest rate cut on Sept. 18.

While digesting the data, markets are now focusing on U.S. consumer prices due on Wednesday, which should provide some good news on the inflation front: the index is expected to show moderation in August, to 2.6% year-on-year, and remain unchanged at 0.2% month-on-month.

“While the inflation battle is not completely won, it seems the Fed should feel comfortable that inflation is sufficiently under control to begin moving monetary policy in a less restrictive direction,” said Rona Temple, an analyst at Lazard.

In stocks, Boeing, which reached an agreement with a union in the Seattle and Portland region that could allow it to defuse a call for a strike on September 13, advanced 4.2% at the opening.

Dell Technologies and Palantir Technologies, which will join the S&P 500 on September 23, are up 5.2% and 10.4% respectively.

(Written by Diana Mandiá, edited by Blandine Hénault)

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