Futures contracts tied to the Dow Jones Industrial Average gained 18 points. S&P 500 futures were up 0.03%, while Nasdaq 100 futures added 0.04%.
Stocks' move came as interest rates rose, with the yield on the 10-year Treasury note topping 1.62% while the 30-bear Treasury bond rose above 2%. "The stickier drivers of inflation are likely to persist, but our base case is that they will not outweigh the improvement we expect in the transitory elements," he wrote in a note to clients.
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