Stocks are rising on Wall Street after a blizzard of reports suggested the U.S. economy is still humming, though inflation may be too. The S&P 500 was up 0.7% Thursday.
prices getting paid at the wholesale level rose
Treasury yields initially jumped following Thursday’s reports on fears they could push the Fed to raise rates again or at least to keep rates higher for longer. But economists pointed out much of last month’s acceleration in wholesale inflation was due to higher fuel prices, which can shift direction sharply and quickly.
The two-year Treasury yield, which more closely tracks expectations for the Fed, also bounced up, down and back again following the reports. It was sitting at 4.96%, down from 4.98% late Wednesday, after briefly leaping above 5.02%. “The Fed is still likely to remain on hold next week, but if the economy continues to surprise to the upside, all bets are off as to what they’ll do after their final two policy meetings of the year,” he said.are set to begin trading later in the day. It priced its stock at $51 per share in an initial offering, The offering valued Arm at $54.
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