T + T – Normal size
U.S. stocks rose on Monday as investors turned their focus to comments from Federal Reserve policymakers and economic data due this week after the U.S. central bank cut interest rates..
The Dow Jones Industrial Average rose 60 points, or 0.15 percent, the S&P 500 rose 9.3 points, or 0.16 percent, and the Nasdaq Composite rose 46.6 points, or 0.26 percent..
Stocks will certainly remain vigilant, particularly for any economic data that could prompt hopes of a soft landing, said Brian Burrell, portfolio manager at Thornburg Investment Management..
“We are entering a period where there will be electoral risks, and the Fed will look at the data, particularly the labor markets, where we see weakness, especially at the lower end of the United States,” Borrell added. “There will be a balance between easing financial conditions and lowering interest rates, which we are seeing with the weakness in the labor market.”.
