Stocks Rise and Bond Yields Ease on Soft Inflation
Wall Street stocks and short-term US Treasury prices rose as softer inflation data lowered expectations for Federal Reserve rate hikes. Long-term yields remained higher amid global debt pressures and elevated energy costs.
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Wall Street stocks and two-year Treasury yields fell on Wednesday afternoon after softer-than-expected inflation data cooled expectations of a near-term Federal Reserve rate hike. The S&P 500 rose 45.83 points to 7,716.67, extending its monthly gain. Traders trimmed bets on aggressive monetary tightening following the PCE release.
