Most markets rose Monday and gold hit a record high following US inflation figures that met expectations and soothed concerns about Donald Trump's latest tariff salvo.

However, investors were keeping a wary eye on Washington, where lawmakers have failed to reach a funding compromise to keep the government running, which observers say could affect the release of key data.

All three main indexes in New York ended in the green Friday, snapping three straight losses following news that the Federal Reserve's preferred gauge of inflation rose in line with expectations, giving the bank room to cut interest rates again.

While the 2.7 percent reading on the August personal consumption expenditures (PCE) index was up from 2.6 percent in July and well above the Fed's two percent target, policymakers are focusing on supporting the labour market after a string of weak jobs readings.

Their cut earlier this month -- the first since December -- came as a closely watched guide indicated two more were in the pipeline before January.

The news helped investors look past the US president's announcement last week of 100 percent tariffs on........

© International Business Times