US stock indices rose at the close of trading on Monday for the fourth consecutive session, ahead of the release of key inflation data
Optimism is growing that the inflation rate has slowed and may have peaked in August to reverse its downward trend.
The Dow Jones index rose 0.71%, or 229.63 points, and closed at 3,2381.34 points, and the S&P 500 rose 1.06%, or 43.05 points, to 4,110.41 points, while the Nasdaq rose by 1.27%, or 154.10 points, to 12,266.41 points.
The energy sector was the best performer among other sectors, and the gains of the “Apple” stock added regarding 3.85% to the positive performance of the technology sector.
Analysts believe that the inflation rate slowed in August due to the decline in gasoline prices, which is a strong signal for the Federal Reserve to decide on its monetary policy.