Wall Street's main indexes rose on Monday as a pullback in Treasury yields boosted megacap growth stocks ahead of key inflation and jobs data this week that will offer more clues on the Federal Reserve's interest rate path.
Stocks ended a volatile session higher onafter Fed Chair Jerome Powell at the Jackson Hole meet said the U.S. central bank may need to raise interest rates further.
"Investors were looking for perhaps more guidance or hints about the Fed's next step and unfortunately there were no new thoughts or strategies disclosed," Peter Andersen, founder of Andersen Capital Management, said.
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