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US stocks climb as investors brace for this week's Fed meeting and consumer inflation data

Matthew Fox   

US stocks climb as investors brace for this week's Fed meeting and consumer inflation data
  • US stocks rose on Monday ahead of a catalyst-filled week that includes the November CPI report.
  • Investors will hope to see signs that inflation is continuing to decelerate, as it did in October.
  • The Fed FOMC meeting will include an interest rate decision on Wednesday, December 14.

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

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

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

Also moving stocks on Monday was a flurry of merger deals that totaled more than $70 billion, according to data from Bloomberg. Some of the bigger deals include Amgen buying Horizon Therapeutics for $28 billion, Thoma Bravo buying Coupa Software for $8 billion, and Microsoft purchasing a $2 billion stake in the London Stock Exchange Group.

Here's where US indexes stood shortly after the 9:30 a.m. ET open on Monday:

Here's what else is happening this morning:

In commodities, bonds and crypto:

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


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