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AP National Business

Stocks wobble as traders weigh outlook for rates, inflation

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Published 9:42 AM

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Stocks are wobbling in afternoon trading on Wall Street Thursday as investors consider the outlook for rising interest rates and inflation. The S&P 500 rose 0.2%, the Dow Jones Industrial Average fell 0.3% and the Nasdaq rose 0.3%. Bond yields continued to rise a day after the Federal Reserve indicated it was ready to raise interest rates to fight off inflation. The yield on the 10-year Treasury note, the benchmark for home mortgage rates, rose to 1.73%. Banks made broad gains. Energy stocks rose along with crude oil prices. A mix of retailers and health care stocks fell.

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