NEW YORK (AP) — Wall Street closed higher after a report showed inflation slowed again last month. The S&P 500 rose 0.3% Thursday.
The Nasdaq and the Dow each rose 0.6%. While the report on inflation was clearly encouraging, stocks had already rallied earlier this week in anticipation of exactly such data. Analysts warned investors not to get carried away by the numbers, which were in line with forecasts.
Treasury yields fell as investors grow more convinced cooling inflation will convince the Federal Reserve to downshift the size of its rate hikes. Such increases stifle inflation but also hurt the economy and investments.