*

Boeing ( BA ) jumps after reaching tentative labor deal

*

Dell, Palantir ( PLTR ) rise as stocks to be added to S&P 500

*

Indexes up: Dow 1.13%, S&P 500 0.93%, Nasdaq 0.73%

(Updates prices at 2:23 p.m ET/ 1823 GMT)

By Sinéad Carew and Shubham Batra

Sept 9 (Reuters) - Wall Street's three main stock

indexes rose on Monday after a week of losses as investors

looked for bargains while they waited for inflation reports in

coming days and the Federal Reserve's next policy decision next

week.

This week's key events include the consumer price index

(CPI) report, due Wednesday morning after Tuesday night's first

debate between U.S. presidential candidates Democrat Kamala

Harris and Republican Donald Trump ahead of the Nov. 5 election.

Global markets were rattled last week as concerns over the

U.S. economy's health added fuel to uncertainty about the Fed's

rate policy ahead of its policy decision due Sept. 18.

Friday's weaker-than-expected August jobs data spurred

worries about the labor market, resulting in the Nasdaq

Composite's biggest weekly drop since January 2022, and

the S&P 500 biggest weekly loss since March 2023.

"You had an over sold condition last week. There's not

anything significant today that would change the narrative.

You've some high quality stocks that are cheaper," said Phil

Blancato, chief market strategist at Osaic Wealth, New York.

In particular Blancato pointed to a more than 2% boost

in shares of market heavyweight and artificial intelligence

chipmaker favorite Nvidia ( NVDA ), which fell 15.3% last week.

But since trading is usually more muted before big

economic news, the strategist was concerned to see a rally

before Wednesday's CPI inflation report, which is expected to

help inform whether the Fed cuts rates by 25 or 50 basis points.

"The market's expecting a very soft print and locking in

a Fed cut. What happens if we don't get that?" said Blancato who

expects volatility after whatever decision the Fed makes.

Some investors will be disappointed if the Fed only cuts

rates by 25 basis points but if the cut is double that, they

will be worried that the Fed has big concerns about the economy.

"It's a lose-lose situation," the strategist said.

Wednesday's report is expected to show a moderation in

headline inflation in August to 2.6% on a yearly basis, while on

a monthly basis it is expected to remain unchanged at 0.2%. The

CPI report will be followed by producer prices data on Thursday.

At 02:23 p.m. the Dow Jones Industrial Average rose

457.59 points, or 1.13%, to 40,803.00, the S&P 500 gained

50.49 points, or 0.93%, to 5,458.91 and the Nasdaq Composite

gained 121.03 points, or 0.73%, to 16,811.86.

The eleven major S&P 500 industry sectors were trading

higher, with financials leading gains, up 1.8% followed

closely by industrials.

Creating a drag on the technology sector, up

0.6%, was Apple Inc ( AAPL ) whose shares fell more than 1%

after it unveiled its artificial intelligence-boosted

iPhone 16

.

Apple's ( AAPL ) long-awaited phone launch came hours after

Chinese rival Huawei began racking up orders for its

tri-fold Mate XT phone.

Boeing ( BA ) advanced 3.6% after the planemaker and its

biggest union reached a tentative deal covering more than 32,000

workers, averting a possible strike.

Palantir ( PLTR ) rose 12.9% and Dell Technologies ( DELL )

rose 3.6% while Erie climbed 1.3% on the news issued

late Friday they will all join the S&P 500 index on Sept. 23.

In the benchmark index, these stocks will replace American

Airlines Group ( AAL ), up 3.7%, Etsy ( ETSY ), unchanged and

Bio-Rad Laboratories ( BIO/B ), which was down 3%.

Advancing issues outnumbered decliners by a 2.61-to-1 ratio

on the NYSE where there were 201 new highs and 88 new lows.

On the Nasdaq, 2,649 stocks rose and 1,487 fell as

advancing issues outnumbered decliners by a 1.78-to-1 ratio. The

S&P 500 posted 24 new 52-week highs and 3 new lows while the

Nasdaq Composite recorded 40 new highs and 158 new lows.