Stocks rose on Monday after a good week for the market. People are hoping that the Federal Reserve will stop tightening things.
The Nasdaq Composite, S&P 500 and Dow Jones Industrial Average rose about 0.3% after the market opened.
Last Friday, important stock market figures in the US rose a lot. This happened because jobs did not grow as much as people thought and the cost of wages did not rise too quickly. This made many people think that the Federal Reserve might not make it more difficult for people to borrow money.
The amount of money the government pays if you lend them money for ten years increased a little, about 7 points, to about 4.63%.
This week, people will listen closely when some top people at the Federal Reserve speak. Among them is the leader, Jerome Powell, who will speak twice. In addition, John Williams and Raphael Bostic, who are leaders from different parts of the United States, will talk.
But some Wall Street experts say we need to be careful. They think that maybe people have too much hope and that the stock market could move too much. A Morgan Stanley insider, Mike Wilson, said last week’s good news for stocks could be just a temporary improvement.
Plus, there are still more reports on how companies are doing that will come to light that could shake up the stock market. But there aren’t many important economic things happening this week. The most important thing is to know how Disney is doing on Wednesday.
In the world of things like oil, the price went up. This happened because two big countries that sell a lot of oil, Saudi Arabia and Russia, said they will continue to produce less oil for a while. This caused the price of oil to rise more than 1% in the United States and a little less than 1% in other countries.
Also read: Economic outlook slows recent S&P 500 rally