Stock market today: Wall Street rises in early trading, though bond yields remain high

The S&P 500 was up 0.3% early Thursday, trimming its slump for August. The Dow rose 94 points and the Nasdaq composite rose 0.2%. Cisco Systems helped lead the way with a gain of 3.6%. The maker of networking products reported stronger profit and revenue for the latest quarter than analysts expected. Stocks have been retreating in August following a torrid first seven months of the year. A swift rise in bond yields is forcing a reassessment of how much to pay for stocks.

Inflation has slowed significantly since the central bank started its rate-raising campaign a year-and-a-half ago, but with consumer prices up 3.2% year-over-year, it's still higher than the Fed's target of 2%. Despite the furious pace of rate hikes, the labor market is robust and Americans remain the economic engine for the U.S. as they continue to spend.

Fed officials face a “tough balancing act” between “the risk of an inadvertent over-tightening of policy against the cost of an insufficient one,” said Tan Boon Heng of Mizuho Bank in a report.

South Africa South Africa Latest News, South Africa South Africa 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 drops as faltering Chinese economy sets off global slideA sharp drop for Wall Street capped a day of declines worldwide after discouraging data on China raised worries about the global economy.
Source: AP - 🏆 728. / 51 Read more »

Asia markets fall as bank stocks retreat under pressure on Wall StreetChina will see a fresh batch of economic data on Wednesday, its July house prices.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »

Activists ease up on Salesforce — plus, 10 other Club stocks traded by Wall Street prosSalesforce (CRM), Nvidia (NVDA) and Alphabet (GOOGL) were among the basket of Club stocks traded by high-profile investors in the second quarter.
Source: CNBC - 🏆 12. / 72 Read more »

Stock market today: Dow closes lower as spike in Treasury yields rattles stocks By Investing.comStock market today: Dow closes lower as spike in Treasury yields rattles stocks
Source: Investingcom - 🏆 450. / 53 Read more »

Market relief in Wall Street amid China’s jitters: Russell 2000, Straits Times Index, AUD/USDWall Street managed to start the week higher, tapping on some recovery in big tech and semiconductors to override earlier jitters around China’s property and financial sector risks.
Source: DailyFX - 🏆 305. / 63 Read more »