In the early hours of Monday, stock markets on Wall Street are showing modest gains as investors brace themselves for a significant week dominated by central bank decisions and interest rates worldwide.

The S&P 500 has edged up by 0.3% in early trading, building on its four consecutive weeks of gains. The Dow Jones Industrial Average has risen by 116 points, or 0.3%, reaching 33,992 as of 9:40 a.m. Eastern time. Meanwhile, the Nasdaq composite has gained 0.5%.

Cruise operator Carnival experienced a notable surge of 9.2% as analysts upgraded its stock, indicating steady demand for the industry and stable pricing, the Associated Press reported.

Conversely, Nasdaq, the exchange company expanding further into technology, encountered a 10% decline after announcing its intention to acquire Adenza, a provider of risk management and regulatory software, for $10.5 billion in a cash and stock deal.

With hopes of avoiding an economic downturn and expectations that the Federal Reserve will adopt a more lenient approach to interest rate hikes, the U.S. stock market has reached its highest level since August.

Traders are speculating that the Fed will maintain interest rates at the current level during its upcoming meeting, which concludes on Wednesday.

Written by staff