Wall Street’s main indexes posted slim gains ahead of key U.S. economic data due later in the week as investors weighed inflation concerns and a fresh surge in so-called ‘meme stocks’
is up about 12% this year, and within about 1% of its record high, as investors anticipate an economic rebound from the coronavirus pandemic.
Concerns about whether inflation could prompt action by the Federal Reserve have consumed markets in recent weeks.in recent weeks even as a long list of supply chain troubles, hiring difficulties, and rising prices cascaded through the country, Fed officials said in their latest review of economic conditions.
Advancing issues outnumbered decliners on the NYSE by a 1.34-to-1 ratio; on Nasdaq, a 1.01-to-1 ratio favored advancers.
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