By Staff Reporters
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U.S. stocks kicked the week off higher as Wall Street inched closer to highly-anticipated inflation data this week. The S&P 500 climbed 1%, while the Dow Jones Industrial Average jumped 230 points, or 0.7%. The technology-heavy NASDAQ Composite led the way up, soaring 1.3%. The moves build on a recent rebound rally that helped all three major averages log weekly gains for the first time in three weeks on Friday. The S&P 500 and NASDAQ each rose more than 4% during over the holiday-shortened week, while the Dow rose 3.2%.
In commodities, oil prices edged higher, extending a streak of recent back-and-forth action. West Texas Intermediate (WTI) futures rose about 1.3% to $87.91 per barrel and Brent crude oil advanced 1.4% to $94.13 per barrel.
All eyes are on the August Consumer Price Index (CPI) due out before markets open later today.
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