S&P 500 closes at report as traders shake off inflation worries

Stocks completed modestly larger Thursday, with the S&P 500 logging its first report shut since May 7 as traders shrugged off one other spherical of hotter-than-expected inflation knowledge. The Dow Jones Industrial Average

rose round 20 factors, or 0.5%, to complete close to 34,466, in response to preliminary figures. The S&P 500

gained round 20 factors, or 0.5%, to shut round 4,239, taking out its earlier report end at 4,232.60. The Nasdaq Composite

superior almost 109 factors, or 0.8%, to round 14,020. Inflation knowledge confirmed the price of residing surged once more in May and drove the tempo of inflation to a 13-year excessive of 5%. Meanwhile, preliminary purposes for unemployment advantages fell by 9,000 to 376,000 within the week ended June 5, the bottom since March 2020.

Source link