Wall Street ends higher as investors digest economic data

NEW YORK: Wall Street's main indices ended higher on Thursday (Sept 28) as investors assessed the latest batch of economic data and as a surge in Trea...

Wall Street's main indices ended higher on Thursday as investors assessed the latest batch of economic data and as a surge in Treasury yields stalled ahead of a key inflation report.

The benchmark 10-year Treasury yield pausing at around 4.6% was bringing “relief”, said Matt Stucky, senior portfolio manager at Northwestern Mutual Wealth Management Co.“A little bit of a counter trend rally is to be expected after three or four pretty sharply negative days.” Separate readings showed initial jobless claims rose slightly last week and a higher-than-expected fall in contracts to buy existing homes in August.

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