Stocks ended the trading session higher on Monday as investors looked ahead to Tuesday's CPI data and Federal Reserve meeting.
The Dow Jones Industrial Average rose 528.58 points, or 1.58%, to end at 34,005.04. The S&P 500 gained 1.43% to close at 3,990.55. The Nasdaq Composite rose 1.26% to 11,143.74.
New York Fed survey showed consumers had grown more optimistic about inflation in November. The bank's survey of of Consumer Expectations showed consumers expected one-year inflation to run at a 5.2% pace, down 0.7 percentage point from October.
On Tuesday, the November consumer price index will be released and traders will be looking for a sign that inflation is slowing. The same day, the Federal Reserve will begin its two-day meeting and is expected to announce another rate hike on Wednesday, though traders anticipate a smaller move than in recent months.
In addition to the expected rate hike, the Fed's updated economic projections and Chair Jerome Powell's press conference could be key signals for what the central bank wants to do in the coming months.
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