Investors bought up shares on Monday, sending U.S. indexes higher once again.
By midday Monday, the dow traded up 240 points at 34,847, the S&P gained 0.15% to trade at 4465 and the Nasdaq Composite Index was at 15,123 (seeing the least upside with a gain of just 8 points.)
The gains come after some challenging sessions last week. Investors had grown nervous about the increase in the Delta variant, as well as the every increasing inflation numbers. Wholesale prices clocked in at a 8.3% increase last month – this, on the heels of the 7.9% increase in July. This week, investors will find out whether that inflation oil wholesale prices is spilling over to consumer prices when the labor department reports the Consumer Price Index.
Meanwhile, investors seem unfazed by the House Democrats calls to raise corporate taxes to 26.5% from the current 21%.
There’s been much speculation surrounding the potential of a pull back in September, ahead of October earnings results. But, on Monday, investors seem to be betting on the idea that the Fed is more interested in employment than in increasing inflation.