On Wall Street, stock prices rose on Tuesday for the second consecutive day as investors hope that the new report will show that inflationary pressures in the U.S. continue to ease.
The Dow Jones strengthened by 0.93 percent to 34,261 points, while the S&P 500 rose by 0.67 percent to 4,439 points, and the Nasdaq index increased by 0.55 percent to 13,760 points.
The rise in the indices is attributed to investors’ hopes that the consumer price report for June, which will be released on Wednesday, will show that inflationary pressures in the U.S. continue to ease.
On Thursday, the report on producer prices for June will be published.
These data will, among other things, influence further decisions by the U.S. central bank regarding interest rates.
In recent days, several Fed officials have indicated that interest rates will need to be raised further to curb inflation, but also that the end of the interest rate hike cycle is approaching.
At the June meeting, Fed leaders kept interest rates unchanged until the effects of the previous tightening of monetary policy on the economy and inflation are seen.
Analysts believe it is almost certain that the Fed will raise interest rates by an additional 0.25 percentage points at this month’s meeting.
Among the biggest gainers yesterday were stocks in the energy sector, thanks to a strong rise in oil prices.
Stock prices of banks also rose significantly as investors hope that the quarterly business results of banks will be good, given that interest rates have risen significantly over the past year.
