Wall Street shakes off some early weakness and edges higher

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.