U.S. stocks rose Monday, ahead of key inflation data that is expected to show further cooling of consumer prices.
The S&P 500 gained 43.05 points, or 1.1%, to 4110.41 after it closed higher for the week on Friday.
The Dow Jones Industrial Average added 229.63, or 0.7%, to 32381.34. The technology-heavy Nasdaq Composite climbed 154.10, or 1.3%, to 12266.41.
All three indexes logged their fourth consecutive trading day of advances.
Indexes have charted a steady rise in recent sessions as concerns about large interest-rate hikes have been alleviated.
Tumbling commodity prices have lifted hopes that the worst of inflation has passed.
Meanwhile, the labor market has remained a key source of economic strength. Gauges of business activity have been stronger than expected.
“The biggest thing driving markets now is investor optimism that inflation is falling,” said Michael Arone, chief investment strategist for the U.S. ETF business at State Street Global Advisors.
Stocks Finish Higher as Key Inflation Data Awaits