Investors are anxious for several economic datapoints this week, starting with inflation.
US stocks closed in a sea of green Tuesday as Wall Street digested cooler-than-expected inflation data and awaited an update on consumer prices , with the July CPI report due Wednesday morning. Tech stocks led the day's rally with the Nasdaq Composite surging about 2.4% while the benchmark S&P 500 rose about 1.7%. The Dow Jones Industrial Average edged up roughly 1%.
July's retail sales reading, a key indicator of the health of the US consumer, is set to follow on Thursday. Wall Street is coming off an unusually boring day after more than a week of volatility. The S&P 500 and Nasdaq on Monday continued slowly building back toward the highs the indexes saw before a three-day sell-off wiped out a decent chunk of those year-to-date gains. Home Depot was the most significant name on the earnings docket Tuesday.
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