U.S. stocks rallied on Monday, putting the S&P 500 within striking distance of its highest close since April 2022, and Oracle hit a record high ahead of quarterly results as investors awaited inflation data and the Federal Reserve's interest rate decision this week.
"There's a chance that the Fed will stay data dependent. So we don't necessarily think that a rate hike is off the table in the future, but for the near term we just see them staying steady," said Dylan Kremer, co-chief investment officer of Certuity.
A rally in megacap stocks, better-than-expected quarterly earnings and hopes that the Fed might be nearing the end of its monetary tightening cycle have lifted indexes in recent weeks.such as energy and industrials, as well as small-cap stocks, as data continues to show a resilient U.S. economy despite higher interest rates.to 4,500 from 4,000, citing the broadening of the market rally.jumped as much as 7% to an all-time high after J.P.
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