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US Inflation Set to Ease in Aug.

US stocks rose on the final day of trading before the release of key consumer-price data, with risk sentiment buoyed by speculation inflation is near peaking. The dollar fell for a second day.

The S&P 500 gained for a fourth day, headed for the best performance over the period since June, as all 11 major industry groups rose. Apple Inc. was the largest contributor to the benchmark’s advance as pre-order data showed the iPhone 14 Pro Max was the best selling model. The dollar declined versus all of its G-10 peers except the yen. The Treasury curve steepened, with 10-year yields rising after a weak auction of similar-maturity notes.

US inflation data due Tuesday is expected to show headline CPI cooled in August to an 8% a year pace while the core measure that excludes food and energy is seen accelerating. Meanwhile, traders almost fully expect another jumbo-sized Federal Reserve hike next week, following two 75-basis-point increases, taking their cue from central bank officials supporting that view.

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