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Aug 13 - U.S. stocks hit a near two-week high on Tuesday after a softer producer prices data reinforced bets of an interest rate cut by the Federal Reserve in September.
"It feels like 'back to normal' for markets as tech stocks lead the way higher again following the lower U.S. PPI data. The reading has given heart to beleaguered investors, who remain skittish after last week's volatility," said Chris Beauchamp, chief market analyst at IG. Stocks wobbled on Monday with the S&P 500 , nearly flat and the Nasdaq , eking out modest gains, following a turbulent week marked by mixed economic reports and a rate hike by Japan's central bank.
Energy shares , dipped on lower oil prices as OPEC's move to cut its forecast for demand growth in 2024 tempered fears of supply risks posed by widening conflict in the Middle East. Investors will look ahead to comments from Atlanta Fed President Raphael Bostic, due at 1:15 p.m. ET, on the outlook for the U.S. economy.
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