Back to News
Sep 9, 2024 1:50 PM

Wall Street Rallies After Last Week's Sell-Off, Palantir Soars On S&P 500 Inclusion, Airlines Rally: What's Driving Markets Monday?

U.S. stocks started the new week with strong gains, as all major indices and sectors in the S&P 500 were in the green by midday in New York. This comes after Wall Street experienced its worst week of the year.

Investors kicked off Monday with renewed optimism, anticipating a boost from Apple Inc. (NASDAQ:AAPL)'s highly anticipated event and key inflation data for August, set to be released on Wednesday.

Economists are predicting a slowdown in the headline inflation rate from 2.9% in July to 2.6% year-over-year in August, potentially marking the lowest inflation level since March 2021. A lower inflation reading could reinforce market expectations for an aggressive rate-cut cycle from the Federal Reserve.

Airline stocks led the charge within industries, with the U.S. Global Jets ETF (NYSE: