Stock market today: Wall Street climbs as stocks worldwide rise

NEW YORK — Stocks rose on Wall Street after a blizzard of reports suggested the U.S. economy is still humming, though inflation may be too. The S&P 500 climbed 0.8% Thursday. The Dow rose 331 points and the Nasdaq composite added 0.8%. Some of the strongest action was in the bond market, where Treasury yields swung up, down and back again following reports on U.S. retail sales, inflation and unemployment. Chip designer Arm Holdings rallied in its public debut.

One report said U.S. shoppers spent more at retailers last month than economists expected. Such spending has been a linchpin for the economy, but it could also encourage retailers to keep trying to raise prices further. To try to get inflation back down to its 2% target, the Federal Reserve has been increasing interest rates sharply. The hope on Wall Street is that a slowdown in inflation since last summer means the Fed is done with its rate hikes, which slow the economy and hurt investment prices.

The yield on the 10-year Treasury initially jumped to nearly 4.30% immediately after the economic data’s release Thursday morning. But it later eased back, only to swing again. It was sitting at 4.28%, just above 4.25% from late Wednesday. Optimism that the Fed may be done hiking rates may be overdone, warned Mike Loewengart, head of model portfolio construction at Morgan Stanley Global Investment Office.

Stocks of energy producers were also rising after oil prices rallied. Crude has been climbing for months as oil-producing countries try to support its price by curtailing their supplies. A barrel of U.S. crude rose back above $90, helping ExxonMobil to climb 1.8% and Marathon Oil to rise 2.2%.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Wall Street churns a bit higher in early tradingNEW YORK (AP) — Stocks are churning slightly higher on Wall Street after a highly anticipated report showed inflation accelerated across the country last month, but not by much more than expected. The S&P 500 was up 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street churns after highly anticipated inflation dataNEW YORK (AP) — Stocks churned to a mixed close on Wall Street after a highly anticipated report showed inflation accelerated across the country last month, but not by much more than expected. The S&P 500 managed a gain of 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street opens higher after retail, inflation dataNEW YORK (AP) — Stocks are ticking higher on Wall Street with hopes that central banks around the world are close to done with their hikes to interest rates. The S&P 500 was up 0.5% in early trading Thursday.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Asian shares slide after tech, rising oil prices drag Wall St lowerStocks fell Wednesday in Asia after a slide in technology stocks dragged Wall Street lower ahead of a key report on U.S. inflation. Hong Kong's Hang Seng lost 0.2% to 17,986,56 and the Shanghai Composite index sank 0.8% to 3,113.18. Japan's Nikkei 225 index shed 0.2% to 32,706.52, while the Kospi in Seoul edged 0.1% lower, to 2,533.61. Australia's S&P/ASX 200 gave up 0.7% to 7,154.60. Shares rose in India and Taiwan but fell in Southeast Asia. Regional markets have been relatively quiet ahead of
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock futures dip in countdown to key CPI data: Stock market news todayAugust's Consumer Price Index inflation report is a key data point for the Fed when it decides on rates policy next week.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock futures stumble as CPI data comes in hot: Stock market news todayAugust's Consumer Price Index inflation report is a key data point for the Fed when it decides on rates policy next week.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »