The New York stock market ended Monday higher and maintained its technical momentum, fueled by hopes of slowing inflation in the United States, ahead of the publication of a key indicator on Tuesday, writes AFP.

The Dow Jones was up 0.71%, the Nasdaq was up 1.27% and the broader S&P 500 was up 1.06%.

It was the fourth straight session of gains for the S&P 500, which is now at a three-week high.

According to analysts at Briefing.com, Wall Street remained on the trajectory it started late last week with a technical bounce.

For them, these new gains are due to the fall of the dollar, as well as the successful session of Apple, the first valuation of the New York market ($2.626 billion).

After benefiting only slightly from the unveiling of a series of new products last week, especially the iPhone 14, the Apple brand rose on Monday (+3.85% to $163.43), leading the tech giants, well ahead of Amazon and Microsoft.

In addition to these elements, according to LBBW Bank’s Carl Heyling, “several traders decided to close their positions” after betting on the downside since late August.

They bought the market again to limit their exposure ahead of the publication of the consumer price index on Tuesday, which will provide information on the development of inflation in the United States.

In July, the index was unchanged from the previous month after rising 1.0% and 1.3% in May and June, respectively, and rose 8.5% year-on-year.

This time, economists expect a slight drop of 0.1% compared to July and an increase of 8.0% year-on-year.