Dow Jones posts biggest daily gain in 3 weeks
Major U.S. indexes closed with collective gains on Monday after a sharp losing streak last week as investors awaited August inflation data.
Wednesday’s report is expected to show headline inflation slowed in August to 2.6% year-on-year, while it is expected to remain unchanged at 0.2% month-on-month. The CPI report will be followed by producer price data on Thursday.
Performance of major US indices:
The Dow Jones Industrial Average rose 1.2%, or 484 points, on Monday, posting its biggest daily gain in three weeks.
The Nasdaq Composite and S&P 500 also rose about 1.2% each, supported by a 3.5% rebound in Nvidia shares after falling 15% last week.
Trading volume on US stock exchanges reached 10.75 billion shares, compared to an average of 10.72 billion shares over the last 20 sessions.
Boeing shares
Boeing shares jumped 3.4% in Monday's session, rebounding from a 22-month low as the company added more than $3 billion in a single day.
The gains came after the aircraft maker and its largest union reached a preliminary agreement covering more than 32,000 workers, averting a potential strike.
Apple stocks
Apple shares closed flat on Monday after the company unveiled the AI-powered iPhone16.
Apple's long-awaited phone launch came hours after Chinese rival Huawei began taking orders for its Mate XT tri-fold phone.
