Wall Street opens higher as focus turns to inflation data

(Reuters) – U.S. stock indexes opened higher on Monday as investors braced for key inflation data this week that could decide The pace of Fed rate hikes is booked. The three major U.S. stock indexes ended their three-week losing streak on Friday, as investors took advantage of a sharp drop in share prices sparked by fears of soaring inflation and efforts to curb Inflation and tightening monetary policy. All eyes will be on Tuesday’s consumer price data for any signs that price pressures may ease . Headline inflation is expected to rise by 8.1% year-on-year in August, compared with 8.5% in July.

The core CPI, excluding volatile factors such as energy and food, is expected to increase to 6.1% from 5.9% last month. The recent pullback in commodity prices, especially oil, has bolstered hopes that the worst of price pressures are over. A weak number could reignite speculation that the Fed will only raise rates after 21 this month’s basis point, although it may have to be very weak to have a real impact on the hawkish stance most policymakers have taken recently. Currency market pricing at 25% three Chances of winning streak 21 The U.S. Central Bank raised the basis point in September . ” Investors expect CPI data to show Inflation readings continue to fall, which is encouraging for investors as the FOMC meeting is only a week away,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “Our economists expect 10- basis point hike at September meeting, although I think 32-bps rate hike is also possible.”

At 8 o’clock: EST, 200 Dow e-mini rose points, or 0.%, 200 Standard & Poor’s 53 e -minis up points, or 0.3%, and 500 NASDAQ 44 Electronic Mini up.21 points, or 0.%.