NEW YORK—Wall Street rose Monday as traders made their final moves ahead of a report that could show whether inflation is cooling in the right way or setting the market up for worse pain.
The S&P 500 climbed 1.1 percent in anticipation of Tuesday’s report on inflation at the consumer level across the country. The Dow Jones Industrial Average gained 376.66 points, or 1.1 percent, while the Nasdaq composite rose 1.5 percent.
Stocks were coming off their worst week in nearly two months, the latest stumble for a market that has struggled for more than a year on worries about high inflation and the Federal Reserve’s response to it. The Fed has aggressively hiked rates to their highest level since 2007 to drive down the worst inflation in generations. High rates can stamp out inflation, but they do so at the risk of sending the economy into a sharp recession and dragging on investment prices….