Stocks increased ahead of economic information that will influence Wall Street's perception of when the Federal Reserve will stop raising interest rates. Bonds were dispersed. The dollar dropped. Bitcoin briefly dropped below $25,000.
The Nasdaq 100 increased 1.2% as the S&P 500 came close to 4,500. While Morgan Stanley upgraded the firm and predicted that the Dojo supercomputer may increase the company's value by up to $500 billion, Tesla gained 10%. Once Apple extended a contract with the chipmaker, Qualcomm's stock gained.
Inflation predictions among US consumers remained largely steady in August, but a Fed Bank of New York survey found that households were becoming more worried about their finances and gloomy about the employment situation. The consumer price index report on Wednesday will offer the most recent information regarding how far the Fed may need to raise interest rates in order to bring inflation back to its target.