Stocks Rise Ahead of Key Inflation Reports and New S&P 500 Additions

NEW YORK, NY — The Dow Jones Industrial Average and other major stock indexes traded higher Monday, with Dow futures rising slightly on the anticipation of key inflation reports due later this week. Robinhood and AppLovin are expected to see significant gains following their upcoming inclusion in the S&P 500 index.

Late Friday, S&P Global announced the quarterly rebalancing of the S&P 500, which will see Robinhood (HOOD), AppLovin (APP), and Emcor (EME) replace Caesars Entertainment (CZR), MarketAxess Holdings (MKTX), and Enphase Energy (ENPH). This change becomes effective before the market opens on September 22.

As a result of the announcement, AppLovin stock and Robinhood’s shares jumped early Monday, while Emcor saw a modest rise. Industry experts, like renowned trader Mark Ritchie II, noted the volatility in stocks like Robinhood, stating, “There’s been so many names I’ve missed. They’ve doubled and then I buy them later and make money on them.”

The Dow Jones index also rose in light of Tesla touching a new buy point, signaling optimism among traders. The index’s rise comes after Friday’s declines, where concerns over the August jobs report weighed on investors.

Market analysts are keeping a close eye on this week’s economic indicators as inflation data is expected to provide insights into the current economic climate. The stock market has positioned itself to react accordingly as it navigates through these pivotal reports.

For regular updates on market trends, the Stock Market Today column offers daily insights into ongoing stock activities, helping investors stay informed about market fluctuations.