⚠️BREAKING: *U.S. STOCK FUTURES POINT TO FIFTH STRAIGHT DAY OF GAINS AHEAD OF INFLATION DATA - 🇺🇸 🇺🇸
NEW YORK - Wall Street extended its winning streak on Monday, rallying to a sharply higher close as investors awaited crucial inflation data that could provide clues about the duration and severity of the Federal Reserve's tightening policy.
The Labor Department's consumer price index , expected before Tuesday's opening bell, is this week's main event, and will be scrutinized for any signs regarding the number and size of future interest rate hikes from the Fed. Economists polled by Reuters expect monthly CPI to have contracted 0.1% in August from July, edging down to 8.1% year-on-year, mainly due to the recent cool-down of commodity prices.
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