– Stocks rose in midday trading on Wall Street Thursday, but remain lower for the week after five straight losses.
Technology and health care companies had some of the biggest gains. Apple rose 1.3% and Pfizer rose 1.6%. Bond yields rose. The yield on the 10-year Treasury note, which helps set mortgage rates, rose to 3.47% from 3.42% late Wednesday.The U.S. reported slightly more Americans filed for jobless claims last week, but not as many as economists had forecast. The labor market remains one of the strongest pockets of the economy, which has been stifled under the weight of stubbornly hot inflation and rising interest rates.
The Fed will meet next week and is expected to raise its benchmark interest rate by a half-percentage point.
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