Growth stocks win out on Wall Street, but inflation fears linger.
OKTA US STOCKS
NEW YORK (Reuters) - On Monday, U.S. equities ended a bumpy session marginally higher, aided by advances in Amazon.com
and other mega-cap growth stocks, while continuing concerns about inflation and interest rates kept the market under control.
After the online retailer divided its shares 20 for 1, Amazon.com Inc (NASDAQ:AMZN) climbed 2%
The stock of Apple Inc (NASDAQ:AAPL) increased by 0.5 percent.
and was the greatest positive for the S&P 500 and Nasdaq.
At its annual software developer conference, the tech behemoth stated, among other things, that it would integrate its software more deeply the car's basic driving systems.
Consumer discretionary and communication services were the two sectors that had the most improvements on the day.
Investors, on the other hand, are still concerned about rising interest rates and inflation
The consumer price index report in the United States is likely to indicate continued strong inflation on Friday, and Treasury yields in the United States climbed on Monday.
On Friday, a strong jobs data dashed hopes of a respite in the Federal Reserve's aggressive policy tightening agenda to combat inflation.
"The markets have been in a push-pull for a time now," said Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago.
"The economy is still in good shape," he remarked, citing the jobs data.
"However, with inflation running high and commodity prices continuing to rise and set new all-time highs, maybe that inflation peak is still in the ethereal future," he says.
Easing regulatory crackdowns in China, as well as hints in some parts of the country of a return to more regular activity
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