© Reuters.
By Liz Moyer
Investing.com — Blue-chip stocks were rising but tech stocks wobbled as investors await inflation data and the Federal Reserve’s next decision on interest rates later this week.
At 9:39 ET (14:39 GMT), the was up 102 points or 0.3%, while the was flat, and the was down 1%.
Tomorrow, the for November is expected to show prices rose 7.3% from the same time last year, slower than the 7.7% rise in October. prices, which exclude fuel and energy, are expected to be 6.1%, down from 6.3% in October.
The readings come after November’s better than expected , which also showed a moderation from recent months.
The Fed starts its last meeting of the year on Tuesday and will issue its decision on rates on Wednesday. Most expect it will raise its by a half percentage point.
The Fed wants to lead the economy out of the high-inflation environment without sparking a recession. Treasury Secretary Janet Yellen told 60 Minutes on Sunday that while there is a risk of recession, she sees much lower inflation by the end of next year.
Shares of the biotech company Horizon Therapeutics PLC (NASDAQ:) rose 14% after Amgen Inc. (NASDAQ:) offered to buy it for more than $27 billion. Microsoft Corporation (NASDAQ:) stock rose 1.4% after it announced a $2B stake in London Stock Exchange Group PLC (LON:).
Oil rose. was up 1.5% to $72.15 a barrel, while crude rose 0.7% to $76.67 a barrel. was down 0.6% to $1798.
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