NEW YORK — 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. The Dow rose 148 points and the Nasdaq composite added 0.4%. Some of the strongest action was in the bond market, where Treasury yields swung up and then down as traders sifted through a mixed set of U.S. reports showing the economy is still humming, though inflation may be too.
The inflation report showed that U.S. consumers paid prices last month that were 3.7% higher than a year earlier, up from July’s inflation rate of 3.2% and slightly more than the forecasts for a 3.6% increase. Even though economists are willing to ignore fuel costs when looking at inflation to find the underlying trends, households and companies don’t get the same luxury.
In Europe at midday, Germany’s DAX was down 0.1% while the CAC 40 in Paris and London's FTSE 100 were mostly unchanged.
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