Wall Street shakes off some early weakness and edges higher
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The Associated Press
Major indexes are edging higher in early trading on Wall Street Thursday after shaking off some weakness shortly after the opening bell. The S&P 500 was up 0.4% and the Nasdaq also rose 0.4%. The Dow Jones Industrial Average edged up 0.1%. 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, the benchmark for home mortgage rates, rose to 1.73%. Energy stocks rose along with crude oil prices. European markets were lower and Asian stocks ended mostly lower.