The S&P 500 ticked up 6.35 points, or 0.1%, to 4,457.49 after falling for three straight days. It lost 1.3% for the week, which was shortened by the Labor Day holiday.
Such data have pushed yields higher in the bond market, which hurts stock prices. But yields held relatively steady on Friday, helping to keep Wall Street quiet. Smith & Wesson Brands jumped 10.8% after the gun maker reported stronger results for the three months through July than analysts expected. The summer is usually a lean season for the company, but its sales rose 35% from a year earlier.
The upcoming week could be a busier one for markets globally. The centerpiece is likely the latest monthly update on inflation in the United States, due on Wednesday. Economists expect it to show prices at the consumer level were 3.6% higher in August than a year earlier. In conversations with clients, strategists at Bank of America say they're hearing the belief that the Fed is done hiking rates and the acceptance that rates will stay higher for longer. "We disagree on the former and agree on the latter," the strategists led by Mark Cabana wrote in a BofA Global Research report. "Both imply higher rates."
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