Stocks Today: U.S. Stocks Rise as Markets Brace for March Inflation Data, New Fed Comments

• U.S. stocks grew on Monday as investors prepared for this week's inflation data.

• Stocks tumbled last week as the market recalibrated interest rate expectations.

• Bond yields continued to climb at the start of the week, as traders saw less likelihood of a rate cut in June.

U.S. stocks rose slightly on Monday as investors tried to rebound from last week's shock.

Last week's sharp reversal came as investors revised their expectations for a quick rate cut this year, which was made less certain by a series of strong economic data. The latest data to break these expectations was Friday's jobs report, which showed that 303,000 new jobs were created in March. The data underscored the strength of the labor market and the economy as a whole, complicating the Fed's prospects for a rate cut at the risk of another rebound in inflation.

This week, investors will be focused on Wednesday's Consumer Price Index report, a key indicator of interest rate policy going south. But with the stock market's upside weak and Treasury yields still rising, many seem to be adjusting for "higher and longer-term" monetary policy.

"Since the beginning of the year, the timing of the first U.S. rate cut has moved from March to June. But there is now a growing view that nothing may be done until the Fed's September monetary policy meeting," Trade Nation senior market analyst David Morrison wrote Monday morning.

Fed officials will also be speaking in the coming days, including New York Fed matron John Williams and Boston Fed matron Susan Collins, both of whom will speak on Thursday. Markets will also analyze the minutes of the March policy meeting scheduled for Wednesday.

Here's what the U.S. stock indexes looked like at the 9:30 a.m. opening bell on Monday:

• S&P 500 IndexThe number of points rose by 0.1 percent to 5210.41, up 0.1 percent.

• Dow Jones Industrial Average38,977.79 points, up 0.2% (+75.91 points)

• Nasdaq ResonanceIndex 16,276.01, up 0.15%

What else happened today?

• Wall Street is becoming increasingly uncertain about whether interest rates will be cut this year.

• "Big Short" investor Steve Eisman gives four reasons why infrastructure is a big bet for him.

• Economist David Rosenberg says gold is set to break through to new all-time highs, with 30% of upside ahead,

• Analysts say that weakening demand and high valuations for INVISTA could mean that its best days in the market could soon be behind it.

Commodities, bonds and cryptocurrencies:

• West Texas Kerosene Intermediate crude oil fell 0.8% to $86.84 per barrel. International benchmark Brent crude oil fell 0.3% to $90.92 per barrel.

• Gold prices were essentially flat at US$2,339.79 per ounce.

• The 10-year Treasury yield rose 5 basis points to 4.428%.

• Bitcoin rose 4.1% to $72,204.

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