As a general recap, the market climbed Monday, and the Dow Jones hit a record-high close above 40,211 after breaking intraday trading records.
Shortly after the close Monday at 4 pm EST, the $S&P 500 Index (.SPX.US)$ climbed 0.28%, the $Dow Jones Industrial Average (.DJI.US)$ climbed 0.53%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.40%.
This week will be a light one for macroeconomic news, with a married of Federal Reserve speakers, retail sales numbers on Tuesday, and Initial Jobless claims on Thursday.
Last week, investors saw lower CPI numbers by about 0.1% than last month, and Producer Price Index numbers came out Friday, showing core producer prices grew at a rate of 0.4%, more than last month. Consumer confidence indicators from the University of Michigan showed that consumer sentiment on the economy fell to an eight-month low.
Tuesday, Federal Reserve Chair Jerome Powell said he would like more data supporting rate cuts, but the Fed keeps its options open. He said that, compared to two years ago, the labor market had cooled significantly to just above where it sat in 2019 and that inflation was not the Fed's only concern.
"Reducing policy restraint too late or too little could unduly weaken economic activity and employment," Powell said.
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