US Stocks Near Records as Jobs and Inflation Data Loom

US stock indices are near record highs ahead of key jobs and inflation data releases. The S&P 500 is approximately 1% below its August mid-month record, driven by gains in tech and AI-related shares.

The market's focus has shifted to the Federal Reserve, which raised interest rates for the first time in three years this month to combat high inflation. Market participants are looking for clues on how policymakers may adjust their views based on upcoming data releases.

Jim Baird, chief investment officer at Plante Moran Financial Advisors, noted that the Fed and rates are currently at the center of market attention, with the jobs and inflation figures serving as significant signals of potential shifts in policymakers' views.