Source: Sharecast
The Dow gained 0.4% to 45,711.34, the S&P 500 rose 0.3% to 6,512.61, while the Nasdaq was up 0.4% at 21,879.49.
Investors have been holding out for two major inflation releases later this week – August's producer price index is due out on Wednesday, while the consumer price index will follow on Thursday – with the data likely to shape expectations for the Fed's policy meeting next Wednesday.
Sentiment has shifted in recent days following a softer-than-expected US jobs report, which fuelled hopes that interest rates may be headed lower. However, any upside surprise in the inflation figures could challenge that narrative, prompting a reassessment of the Fed's near-term stance.
While markets are almost fully pricing in a rate cut next week, the inflation data will be closely watched for signs of persistent price pressures, particularly in core categories. The Fed has held rates steady since July, citing progress on inflation but warning that labour market resilience and energy price volatility could complicate the path forward.
Adding to rate-cut speculation were Tuesday's revisions to historic data from the Bureau of Labor Statistics which showed that the US economy added 911,000 fewer jobs than first reported for the 12 months through March 2025.
"This wasn’t a rounding error; it was a wholesale confession that the so-called 'resilient labor market' had been puffed up by accounting smoke," said Stephen Innes, managing partner at SPI Asset Management. "And yet, equities edged higher. Traders are like card sharps who see the dealer’s hand is crooked but keep playing because the chips are still flowing."
Elsewhere on the macro front, the National Federation of Independent Business' optimism index rose 0.5 points in August to 100.8, almost three points above the 52-year average of 98. Of the 10 Optimism Index components, four increased, four decreased, and two were unchanged. The Uncertainty Index fell by four points to 93, but remained well above the historical average, due to a decrease in uncertainty about financing expectations and planned capital expenditures.
Market movers
US-listed shares of Canada's Teck Resources jumped 11% after the company agreed a merger with Anglo American to create a copper-focused mining titan worth $53bn. London-listed Anglo will own about 62.4% of the new entity – to be called Anglo Teck – and Teck investors 37.6%. Anglo's chief executive, Duncan Wanblad, will remain CEO, while Teck’s Jonathan Price will serve as his deputy.
UnitedHealth was another high riser, surging 10% after the health insurer said that 78% of its members are expected to be enrolled in its top-rated Medicare insurance plans in 2026.
Limiting gains was a fall of 1.5% from tech behemoth Apple ahead of a series of product launches expected later in the day.
Dow Jones - Risers
Unitedhealth Group Inc. (UNH) $347.92 10.31%
International Business Machines Corporation (CDI) (IBM) $259.11 4.26%
Goldman Sachs Group Inc. (GS) $763.92 3.48%
Walmart Inc. (WMT) $102.29 1.77%
JP Morgan Chase & Co. (JPM) $297.85 1.18%
Chevron Corp. (CVX) $154.64 0.77%
Cisco Systems Inc. (CSCO) $67.34 0.69%
Salesforce.Com Inc. (CRM) $252.06 0.52%
Visa Inc. (V) $344.03 0.22%
Microsoft Corp. (MSFT) $498.41 0.04%
Dow Jones - Fallers
Verizon Communications Inc. (VZ) $43.56 -1.83%
Apple Inc. (AAPL) $234.35 -1.48%
Dow Chemical Co. (DOW) $24.14 -1.47%
3M Co. (MMM) $153.02 -1.43%
Caterpillar Inc. (CAT) $417.99 -1.18%
Home Depot Inc. (HD) $415.34 -0.86%
Johnson & Johnson (JNJ) $176.96 -0.82%
Travelers Company Inc. (TRV) $273.55 -0.61%
McDonald's Corp. (MCD) $312.67 -0.59%
American Express Co. (AXP) $324.44 -0.58%
S&P 500 - Risers
CenturyLink Inc. (LUMN) $5.63 18.53%
Brighthouse Financial, Inc. (BHF) $48.81 12.52%
Unitedhealth Group Inc. (UNH) $347.92 10.31%
Nektar Therapeutics (NKTR) $48.57 9.56%
Centene Corp. (CNC) $31.06 7.18%
Amphenol Corp. (APH) $116.79 5.74%
Iron Mountain Inc (New) (IRM) $96.65 4.87%
International Business Machines Corporation (CDI) (IBM) $259.11 4.26%
Oracle Corp. (ORCL) $241.51 3.74%
Goldman Sachs Group Inc. (GS) $763.92 3.48%
S&P 500 - Fallers
Humana Inc. (HUM) $273.02 -11.33%
Albemarle Corp. (ALB) $72.58 -10.99%
Celanese Corp. (CE) $44.69 -8.31%
PVH Corp. (PVH) $82.28 -6.19%
Boston Properties Inc. (BXP) $72.40 -5.77%
Freeport-McMoRan Inc (FCX) $43.89 -5.29%
Brown Forman Corp. Class B (BF.B) $27.49 -5.02%
News Corp Class B (NWS) $32.45 -4.47%
Sl Green Realty Corp. (SLG) $59.26 -4.37%
Dollar General Corp (DG) $104.57 -4.33%
Nasdaq 100 - Risers
JD.com, Inc. (JD) $33.87 3.11%
Micron Technology Inc. (MU) $135.24 2.88%
Alphabet Inc. Class C (GOOG) $239.94 2.47%
Alphabet Inc. Class A (GOOGL) $239.63 2.39%
Meta Platforms Inc. (META) $765.70 1.78%
Biogen Inc (BIIB) $143.63 1.61%
Netflix Inc. (NFLX) $1,263.25 1.49%
Nvidia Corp. (NVDA) $170.76 1.46%
Western Digital Corp. (WDC) $94.54 1.34%
Seagate Technology Plc (STX) $191.59 1.24%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $9.01 -7.97%
Dollar Tree Inc (DLTR) $96.30 -3.12%
Broadcom Inc. (AVGO) $336.67 -2.60%
DENTSPLY Sirona Inc. (XRAY) $13.91 -2.11%
Ross Stores Inc. (ROST) $149.04 -1.67%
Verisk Analytics Inc. (VRSK) $268.66 -1.60%
Marriott International - Class A (MAR) $264.00 -1.52%
Apple Inc. (AAPL) $234.35 -1.48%
American Airlines Group (AAL) $12.76 -1.47%
Gen Digital Inc. (GEN) $29.48 -1.45%