US stocks closed at record highs as traders turned their attention to two major economic events this weekend.
The S&P 500 rose 0.3%, with the utilities and energy sectors the benchmark index’s best performers. The Nasdaq Composite index rose 0.4%, with five Magnificent Seven stocks rising.
Oil prices increased. International benchmark Brent crude rose 2.5% to $81.63 a barrel, the biggest one-day increase since March.
On Wednesday, traders will monitor US inflation data from May and an interest rate decision from the Federal Reserve. Traders do not expect the US central bank to cut interest rates, but they will pay close attention to the updated “dot chart”, which will provide guidance on the long-term outlook for officials. Fed on interest rates.
