Treasuries Advance After CPI; Stocks Edge Higher: Markets Wrap
- Traders look to Thursday’s producer price data for rate clues
- US debt-ceiling impasse remains a big concern for investors
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US stocks posted modest gains in a listless session, while Treasuries rose after a report showed inflation moderated slightly in April and swaps traders upped bets the Federal Reserve will cut rates this year.
The S&P 500 wavered between gains and losses before ending Wednesday’s session up 0.4%. The tech-heavy Nasdaq 100 posted a 1.1% gain, the highest close for the gauge since Aug. 18. So-called Faang names, Amazon.com Inc., Apple Inc. and Microsoft Corp., bolstered the benchmarks. Walt Disney Inc. shares slid 3.1% in afterhours trading on faster-than-expected streaming losses.