Asian shares mixed with eyes on inflation, US economy
Stocks closed mostly higher on Wall Street following more signals that the economy is continuing to recover. The S&P 500 managed to rise 0.1% Thursday after giving up much of an earlier gain. Investors were encouraged to see that weekly unemployment claims fell to another pandemic low and that the U.S. economy grew at a solid rate during the first quarter. Banks and industrial stocks led the gains. Technology companies fell, pulling the Nasdaq slightly lower. Health care and household goods makers also lagged the broader market. The yield on the 10-year Treasury note rose to 1.60%.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
Stocks edged higher on Wall Street Thursday as investors received more signals that the economy is continuing to heal from the pandemic.
Economic reports showed that unemployment is falling and the U.S. economy grew at a solid…