NEW YORK — Stocks are edging higher in early trading on Wall Street and are heading for their fourth weekly gain in a row. Treasury yields pulled back in the bond market after a measure of prices that’s closely tracked by the Federal Reserve suggests that inflation is continuing to ease. That augurs well for the Fed to deliver interest rate cuts. The S&P 500 was up 0.3% in the first few minutes of trading Friday. The Nasdaq composite rose 0.
Nike's dour outlook dragged other athletic apparel companies down with it. Foot Locker fell 5.7%, Skechers lost 3.7% and Under Armour was down 2.8% in off-hours trading. The latest updates on inflation could influence the central bank’s decision on when to begin cutting interest rates, which remain at their highest level in more than 20 years and which are having an impact worldwide. Wall Street is betting that the central bank will start cutting interest rates at its September meeting.
France's CAC 40 slipped 0.4% at midday trading in Europe, while Germany's DAX added 0.6%. Britain's FTSE 100 rose 0.5%.
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