Street dances to promise of upbeat data

The end may not be nigh. Stock markets rallied on Monday after one of their most volatile weeks in a decade, on optimism that economic news coming this week will be good for investors.

The Dow Jones industrial average surged 410.37 points, or 1.7 percent, to 24,601.27 — and now rests more than 1,100 points higher than the recent low it hit on Friday afternoon.

Other major indexes also rallied. The S&P 500 rose 1.4 percent, to 2,656, and the Nasdaq rose 1.6 percent to 6,981.96.

“The story that everyone’s talking about is that fundamentals are very strong across the world right now,” Lindsey Bell, investment strategist at CFRA Research, told The Post.

Investors are eagerly awaiting the Consumer Price Index, a key piece of economic data on Wednesday that measures inflation, as a test of whether this rally will last.

If the CPI is too high, it could mean that inflation is rising faster than expected — and that the Federal Reserve could raise borrowing costs faster than originally anticipated, Bell said.

“If we can get stability this week with the CPI report, that could be a sign the market could be getting ready to move higher,” she said.

The Fed has signaled it would hike rates three times this year. Bell said she thinks the central bank will stick to that guidance.

While Monday’s rally marks the second consecutive day in the green, the Dow is still more than 7 percent from its all-time high of 26,616, reached on Jan. 26.

The yield on 10-year Treasury bonds hit 2.9 percent on Monday — a four-year high, signaling that bond investors may think markets are riskier than stockholders do.