U.S. stocks end sharply higher ahead of highly-anticipated CPI data on January inflation


U.S. stocks finished sharply higher Monday, with gains led by the technology-heavy Nasdaq Composite, as investors await fresh data from the consumer-price index for a reading on inflation in January. The Dow Jones Industrial Average DJIA, +1.11% closed 1.1% higher, while the S&P 500 SPX, +1.14% gained around 1.2% and the Nasdaq COMP, +1.48% rose 1.5%, according to preliminary data from FactSet. The S&P 500 and Nasdaq each scored their best day in about a week, FactSet data show. CPI data for January will be released Tuesday morning at 8:30 a.m. Eastern time, with economists polled by The Wall Street Journal expecting the consumer-price index to show inflation rose 0.4% last month as the year-over-year rate slowed to 6.2%. Meanwhile, the yield on the 10-year Treasury note declined 2.7 basis points Monday to 3.716%, while two-year Treasury yields rose 2.3 basis points to 4.534%, according to Dow Jones Market Data.

This article was originally published by Marketwatch.com. Read the original article here.

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