Wall St gains as Tesla leads megacap rally; inflation data in focus
consumer discretionary stocks, up 1.6%, led gains in major S&P 500 sectors.
The consumer price data on Wednesday will indicate whether the U.S. economy is on track for a so-called soft landing that could allow the Fed to bring down inflation without sharply impacting growth. "I expect at least one more increase, but this is at best. Certainly no cuts, and I don't expect to see cuts for quite some time until we see a dramatic decline in employment."
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