US STOCKS-S&P 500 closes at record high as long-term inflation fears abate
Wall Street stocks ended firmer on Thursday, with the S&P 500 hitting a record closing high, as economic data appeared to support the Federal Reserve's assertion that the current wave of heightened inflation will be temporary. All three major U.S. stock indexes advanced, with market-leading megacap stocks putting the Nasdaq out front. The Labor Department's consumer price index (CPI) data came in above consensus and added fodder to the debate over whether current price spikes could morph into long-term inflation, despite the Fed's assurances to the contrary.
Published:6/10/2021 3:09:35 PM