Stock Market Today: Stocks Close Higher Ahead of Key Inflation, Jobs Data

The July personal consumption expenditures (PCE) index and the August jobs report are just two key data points on this week's jam-packed economic calendar.

blue stock market chart with teal bars and red moving averages
(Image credit: Getty Images)

Stocks closed higher Monday as investors brushed off concerns over the possibility of more interest rate hikes. 

Federal Reserve Chair Jerome Powell said in his speech at Jackson Hole last Friday that the central bank is prepared to do whatever it takes to bring inflation down, even if that means additional rate hikes. Powell also reiterated that the Fed remains data dependent in its decision making, which makes this week's key economic reports all the more important.   

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.