Wall Street Sails Through Choppy Waters with Gains on Economic Data

Wall Street's main stock indexes extended gains on Monday amid choppy trading, buoyed by strong economic data. Investors are eagerly waiting for Federal Reserve Chair Jerome Powell's speech at Jackson Hole for potential rate-cut signals. Ten of the 11 S&P 500 sectors advanced, with communication services leading. Estee Lauder fell on a downbeat profit forecast, while AMD rose on plans to acquire ZT Systems for $4.9 billion.

Wall Street's main stock indexes extended their gains in choppy trading on Monday after clocking their best week of the year. Investors are looking ahead to Federal Reserve Chair Jerome Powell's speech at Jackson Hole for any potential rate-cut indications.

The benchmark S&P 500 clinched a seven-day winning streak on Friday, its longest since October 2023, after strong economic data eased investor concerns about a recession. Ten of the 11 S&P 500 sectors advanced, with communication services being the biggest gainer, buoyed by Alphabet's 1.6% rise.

Estee Lauder shares fell 1.9% following a downbeat profit forecast, while AMD rose 2.3% on plans to acquire ZT Systems for $4.9 billion. The Dow Jones Industrial Average rose 0.24%, the S&P 500 gained 0.16%, and the Nasdaq Composite added 0.08%.