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Catalyst-filled week with CPI report, FOMC meeting

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  • US stocks rose on Monday ahead of a catalyst-filled week that includes November’s CPI report.
  • Investors are hoping to see signs that inflation continues to decelerate, as it did in October.
  • The Fed’s FOMC meeting will include an interest rate decision on Wednesday, December 14.

U.S. stocks edged higher on Monday as investors brace for a catalyst-filled week that could move stock prices in a big way.

The first catalyst is the release of November’s CPI report, which will reveal to investors whether inflation continues to decelerate, as it did in October. The CPI report will be released on Tuesday and consensus estimates call for monthly and annual headline inflation of 0.4% and 7.7%, respectively.

The CPI report will then be followed by the Fed’s December FOMC meeting, which begins on Tuesday and ends on Wednesday with a press conference and an interest rate decision from Fed Chairman Jerome Powell. The market is currently expecting an interest rate hike of 0.50%, a slowdown from earlier Fed rate hikes of 0.75%.

Monday’s stock move was also a flurry of merger deals that totaled more than $70 billion, according to Bloomberg data. Some of the larger deals include Amgen buying Horizon Therapeutics for $28 billion, Thoma Bravo buying Coupa Software for $8 billion, and Microsoft buying a $2 billion stake in the London Stock Exchange Group.

Here’s where the U.S. indices were shortly after the 9:30 a.m. ET Monday open:

Here’s what else is happening this morning:

In commodities, bonds and crypto:

  • West Texas Intermediate crude oil rose 0.89% to $71.65 a barrel. Brent, the international oil benchmark, jumped 0.28% to $76.31.
  • Gold fell 0.64% to $1,799.20 an ounce.
  • The 10-year Treasury yield fell five basis points to 3.53%.
  • Bitcoin rose 0.53% to $17,025, while Ether jumped 0.54% to $1,253.

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