Stocks stagger higher after mixed report on April inflation
The S&P 500 was 0.4% higher after waffling between gains and losses in early trading. The Dow was up 1% and the Nasdaq was 0.5% lower as tech stocks again lagged the market.
Treasury yields initially jumped following the inflation report but pared their gains.
Wall Street has been transfixed on the nation’s high inflation, and where it’s heading, because it’s causing the Federal Reserve to yank the supports it propped under markets for most of the pandemic.