Stocks Rally on Monday as Investors Await Fed Meeting, Inflation Data

The stock market rose on Monday, as investors anticipated the Federal Reserve’s last policy meeting and key inflation data. The central bank is expected to implement a 50-basis-point hike, but investors looked ahead the Fed’s future plans.

Overall, S&P 500 was up 1.4% to 3,991, while NASDAQ increased 1.3% to 11,144.

Tweet of the Day

Chart of the Day

Our chart of the day is the one-year chart of Grainger (GWW) as of November 25, 2022, when the stock was at $604.

Grainger is the leading supplier of maintenance supplies in North America, Japan and the United Kingdom. Customers include manufacturing plants, retail distribution centers, hospitals and governments.

The company is growing sales and profit margins at the same time, and profits are rolling in. Management calls this a “favorable price/cost spread”. The company is utilizing its own internal information, product information, and market information to get the best price.

Qtrly profit growth has been excellent the prior four qtrs, and profits look good for next qtr too. GWW is part the Conservative Growth Portfolio.

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