US stocks jump as investors look to a further slowdown in consumer inflation

Jason Ma

New York Stock Exchange traders

Spencer Platt/Getty Images

  • US stocks jumped Monday ahead of Tuesday’s consumer price index report.
  • Wall Street expects January inflation to slow to an annual pace of 6.2% from 6.5% in December.
  • But Fed policymakers have said recently that the central bank still has a lot of work to do on inflation.

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US stocks jumped Monday as investors looked to Tuesday’s consumer price index report, which is expected to show a further slowdown in inflation.

Wall Street estimates that January inflation will show an annual pace of 6.2%, down from 6.5% in December as well as June’s high of 9.1%. The Labor Department will publish the data at 8:30 a.m. ET.

In a research note, analysts at JPMorgan said a reading of 6% to 6.3% is the most likely scenario with odds of 65%. If that happens, expect a bullish move from the S&P 500 with a gain of between 1.5% and 2%.

Investors have been optimistic that improving data will allow the Federal Reserve to start cutting rates later this year. But Fed policymakers have said recently that the central bank still has a lot of work to do on inflation and warned they eventually may have to lift benchmark rates higher than markets expect.

Here’s where US indexes stood at the 4 p.m. market close on Monday:

Here’s what else is going on:

In commodities, bonds, and crypto:

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Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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