NEW YORK — U.S. stocks are wandering, and yields are climbingup Thursday following combined financial reports that provided no slam-dunk ideas about where interest rates are heading.
The S&P 500 was essentially thesame in early trading. The Dow Jones Industrial Average was down 26 points, or 0.1%, as of 9: 40 a.m. Eastern time, and the Nasdaq composite was flat.
The stock market has mostly been taking its hint from the bond market justrecently, and increasing yields tightenedup their capture after a report revealed inflation at the customer level was a touch greater last month than economicexperts anticipated.
That raises frets about the Federal Reserve keeping its primary interest rate high for a long time, as it attempts to undercut inflation by knocking down financialinvestment rates and slowing the economy.
But the inflation report likewise had more motivating nuggets for monetary markets below the surfacearea. After overlooking rates for food and fuel, which Fed authorities see as a muchbetter predictor of where inflation is heading, costs that customers had to pay last month were in line with expectations. They likewise continued to decrease from earlier months.
Another report stated alittle less U.S. employees used for joblessness advantages last week than anticipated. That, too, used both motivation and care for markets. On one hand, it suggests a task market with coupleof layoffs, which indicates strength for the general economy. But it might likewise be including fuel to keep up p