U.S. stocks open higher as investors shrug off expectations for aggressive Fed rate hike

U.S. stocks opened higher Monday, as investors shrug off market expectations that the Federal Reserve will raise interest rates by 0.75 percentage point in September after Friday's surprisingly strong labor-market report. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.27% rose 0.5% soon after the opening bell, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.38% gained 0.4% and the Nasdaq Composite /zigman2/quotes/210598365/realtime COMP -1.29% advanced 0.3%, according to FactSet data, at last check. Investors are looking ahead to Wednesday's reading on the consumer-price index for a gauge of inflation in July, as they seek to assess how aggressive the Fed may hike rates to curb the soaring cost of living.

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June 7, 2023 5:31p

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