Wall St closes higher as investors digest economic data ahead of inflation report

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Wall St closes higher as investors digest economic data ahead of inflation report

Sept 28 (Reuters) – Wall Street’s main indexes finished higher on Thursday, as investors assessed the latest batch of economic data and after a rise in Treasury yields stalled ahead. in a key inflation report.

Investors are also watching developments in Washington to see if US lawmakers can avoid a government shutdown.

* The recent move in Treasury yields to a 16-year high has sent the stock market reeling after the Federal Reserve last week signaled a hawkish long-term outlook for interest rates. rates.

* The pause in the 10-year Treasury yield at around 4.6% brings “comfort,” said Matt Stucky, senior portfolio manager at Northwestern Mutual Wealth Management Co.

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* “The markets in general are very, very volatile these days,” said Matt Stucky, senior portfolio manager at Northwestern Mutual Wealth Management Co.

* According to preliminary data, the S&P 500 gained 24.75 points, or 0.58%, to close at 4,299.26 points; while the Nasdaq Composite gained 107.33 points, or 0.82%, to 13,200.18. The Dow Jones Industrial Average rose 116.13 points, or 0.32%, to 33,659.20.

* Among the S&P 500 sectors, communications services and materials improved. The utilities sector declined, continuing its recent decline.

* Data released on Thursday showed that the US economy maintained a strong pace of growth in the second quarter.

* Investors await the US personal consumption expenditures price index due on Friday for the latest snapshot of inflation.

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