Popular averages advanced after falling for three days in a row. Retail sales unadjusted for price advanced indicating resilient consumer spending. Wholesale inflation accelerated in August.
The European Central Bank lifted its main refinancing rate to a 22-year high and deposit rate to a record high and said inflation is expected to remain too high for too long.
Investors shook off overall inflation acceleration in August and the familiar list of mega tech stocks advanced. Crude oil jumped to a new 10-month high and elevated mortgage rate kept housing transactions subdued.
Market indexes lacked direction after overall inflation accelerated in August and core inflation edged lower from a year ago. Crude oil prices continued to advance on supply worries and fueled expectations of higher inflation in September.
Stocks traded lower on Wall Street and crude oil prices advanced to a new 10-month high. Investors are awaiting the consumer and wholesale price reports over the next two days.
Financial markets rebounded in New York and in Europe and investors searched for tech bargains and set aside worries related to interest rate uncertainties.
Tech stocks led the rebound of popular market indexes on Monday after investors searched for bargains. Crude oil advanced to a new 10-month high and the dollar index traded near its eight-week high.
Market indexes advanced on Friday but are set to close down for the week after volatile trading amid growing worries of a rebound in inflation and uncertainty related to the Federal Reserve's interest rate policy.
Stocks faced renewed selling pressure on Wall Street after the latest jobless claims report sparked the worries of another rate hike at the next policy meeting.
U.S. market indexes traded down and tech stocks led the decliners after a private survey showed the acceleration of price pressures in the service sector.
U.S. stocks turned lower and Treasury yields edged higher after crude oil jumped 1% to a 10-month high after Saudi Arabia extended its voluntary production cut to the end of the year.
Market indexes rested near flatline after a three-weekend as investors debated U.S. rate path and labor market conditions and global economic growth trajectory.
