© Reuters.
Investing.com — U.S. stocks were rising ahead of fresh inflation data and the Federal Reserve’s latest decision on interest rates this week.
At 10:34 ET (14:34 GMT), the was up 35 points or 0.1%, while the was up 0.2% and the was up 0.5%.
The Fed starts its two-day meeting on Tuesday when the Labor Department is set to release the reading for May. That report could influence the , which at the moment is widely considered to be a pause from more rate increases.
Futures traders put the probability of a pause around 73%, though that still may not be the end of interest rate increases. Traders see more than 50% probability the Fed will raise rates in July after the pause.
Meanwhile, the prospect of a slowdown in interest rate increases has lifted stocks. The is out of bear market territory after rising 20% above its October low. Goldman Sachs last week raised its year-end price target for the broad index to 4,500 from 4,000. It’s around 4300 on Monday.
Shares of Biogen Inc. (NASDAQ:) rose 2.1% after a panel of advisers to the Food and Drug Administration unanimously backed its Alzheimer’s drug in a meeting last week.
Adobe Systems Incorporated (NASDAQ:) shares rose 2.6% after a price target raise from Jefferies, while Oracle Corporation (NYSE:) shares rose 4.9% after a price target increase by JPMorgan.
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