Investors looked ahead to a week of crucial economic data releases, including the U.S. consumer price index, Singapore budget, India's inflation and Japan's GDP.
both indexes posting the worst week since December after a slew of corporate earnings and Federal Reserve speakers reiterated their hawkish messages that there is more work to be done to tame inflation. The Dow closed nearly 170 points higher.All eyes are on inflation data next week
The January reading for the index, which follows the prices of a wide basket of goods as a gauge of inflation, is due Tuesday. Economists polled by Dow Jones forecast a 0.4% increase in headline CPI on a monthly basis and a 6.2% gain from the prior year. Market observers also expect the CPI reading to help dictate the Federal Reserve's next move on interest rates. The central bank last implement a 25 basis point interest rate hike, while Fed Chair Jerome Powell noted inflation was starting to come down but had a ways to go.
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