scorecard
  1. Home
  2. stock market
  3. news
  4. Stock market today: US stocks rise as traders look to resume rally ahead of fresh economic data

Stock market today: US stocks rise as traders look to resume rally ahead of fresh economic data

Filip De Mott   

Stock market today: US stocks rise as traders look to resume rally ahead of fresh economic data
  • US stocks rose after dipping on Monday.
  • February's US durable goods orders rose for the first time in three months.

US stocks resumed their rise after stalling in Monday's session as traders tried to revive the rally the drove stocks to their best week of the year last week.

The market mood may have shifted on news that February's US durable goods orders rose for the first time in three months, indicating that firms are turning optimistic about the economy.

Investors are waiting for the latest personal consumption expenditures report due Friday, followed by comments from Federal Reserve Chairman Jerome Powell that same day. According to median forecasts, core PCE, the Fed's preferred inflation measure, is expected to rise 2.8%.

Investors won't be able to trade the news that day, however, as markets will be closed for Good Friday.

On Monday, investors also assessed new Fedspeak, with comments mostly in line with what the central bank conveyed at last week's Federal Open Market Committee meeting. Fed President Austan Goolsbee said he saw three rate hikes this year, though President Raphael Bostic said he saw just one cut this year.

"As long as the economy is strong, as long as GDP is high, as long as businesses are hiring and folks have jobs, I'm not in a hurry to get inflation down to 2%," Bostic said on Monday.

Here's where US indexes stood at the 9:30 a.m. opening bell on Tuesday:

Here's what else is going on today:

In commodities, bonds, and crypto:

  • Oil prices were little changed. West Texas Intermediate crude was flat at $81.90 a barrel. Brent crude, the international benchmark, edged lower to $86.55 a barrel.
  • Gold climbed by 0.74% to $2,188.36 per ounce.
  • The 10-year Treasury ticked up to 4.261%.
  • Bitcoin gained 1.51% to $70,982.

Popular Right Now




Advertisement