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U.S. stock market today rose ahead of consumer price report

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The U.S. stock market today extended its streak of positive territory Monday, with all three major indexes trading at two-week highs on energy and technology stocks.

The release of U.S. inflation data ahead of Tuesday’s market opening is the main event of the week. Investors will be closely watching the report for any signs to give a forecast about the number and amount of interest rate hikes by the Fed.

“The CPI is expected to fall slightly,” said Robert Pavlik of Dakota Wealth. – The market is hopeful that this news will lead to fewer rate hikes after the Federal Open Market Committee meeting in September.”

Best U.S. stocks to buy now

The Dow Jones index closed 0.71% to 32,381.34 points; the S&P 500 index rose 1.06% to 4,110.41 points, while the Nasdaq was up 1.27% to 12,266,411 points.

A 3.9% jump in Apple Inc shares gave the S&P 500 and Nasdaq indices their biggest gains days after the gadget maker unveiled updates to its iPhone and Apple Watch.

Earlier we reported that the dollar is rising against world currencies after the release of U.S. inflation data.

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