The US markets ended in green on Monday ahead of the release of closely watched data on consumer and producer price inflation later in the week. The inflation data may have a considerable impact on the outlook for interest rates following last week's mixed monthly jobs report. The annual rate of growth by core consumer prices, which exclude food and energy prices, is expected to slow to 5.0 percent from 5.3 percent. in the stock specific developments, Intel gained more than 3 percent. Amgen, Home Depot, Walgreens Boots Alliance and Honeywell International gained 2 to 2.8 percent. Caterpillar, Nike, American Express, Walmart, Merck, Cisco Systems and McDonalds also closed higher.
On the economic data front, Wholesale inventories in the U.S. were roughly flat in the month of May, according to a report released by the Commerce Department. The Commerce Department said wholesale inventories were virtually unchanged in May after falling by a revised 0.3 percent in April. Street had expected wholesale inventories to edge down by 0.1 percent, matching the dip originally reported for the previous month. The unchanged reading came as a 0.6 percent increase in inventories of durable goods offset a 1.0 percent slump in inventories of non-durable goods. Meanwhile, the report said wholesale sales slipped by 0.2 percent in May after coming in virtually unchanged in April. Sales of non-durable goods tumbled by 1.0 percent during the month, while sales of durable goods climbed by 0.8 percent.
Dow Jones Industrial Average rose 209.52 points or 0.62 percent to 33,944.4, Nasdaq gained 24.76 points or 0.18 percent to 13,685.48 and S&P 500 was up by 10.58 points or 0.24 percent to 4,409.53.
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