U.S. stocks closed modestly higher on Thursday as investors digested more economic data and commentary from senior Federal Reserve officials. The S&P 500 SPX, +0.23% gained 9.70 points, or 0.2%, to 4,283.74. The Nasdaq Composite COMP, +0.21% is up 27.22 points, or 0.2%, to 12,965.34.
The Dow advanced 27.22 points, or 0.2%, to 12,965.34. In terms of news, jobless claims data showed a modest decline in the number of Americans applying for benefits, while St. Louis Fed President James Bullard said Thursday he is leaning toward supporting a 0.75 percentage point rate hike at the Fed's September meeting.
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Global stocks lower after Fed says US inflation too highGlobal stocks and Wall Street futures are mostly lower after the Federal Reserve said U.S. inflation is too high, suggesting support for more interest rate hikes.
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Analysis: As earnings support U.S. stock rebound, worries over future profits growStronger-than-expected corporate earnings have helped fuel the rebound for U.S. stocks but some investors are pointing to potential risks ahead for profits that could sap the market's momentum. We knew this level of economic carnage was possible when the Democrats won the trifecta
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