Traders await economic readings

However, the session saw significant gains that supported Wall Street even after the US Commerce Department estimated that gross domestic product fell by 1.4% last quarter. Although according to some analysts, the headline is misleading since inventories and public spending were items that experienced a significant decline, consumption and business investments were solid. On the other hand, this figure may mean that the Fed is taking greater precautions when deciding on the monetary policy. The interest rates the market is already discounting are not so restrictive. This, if so, would be a relief for the markets that have seen more aggressive decisions by the Federal Reserve, especially for tech stocks that have been the most affected by interest rate rises. Today, the figure for personal consumption expenditure will be made public and closely followed by investors to evaluate the evolution of inflation for March. If it shows any sign of regression, it could also influence future Fed decisions.