Wall Street Climbs As Global Shares Gain

Stocks are on the rise on Wall Street on Thursday following a flurry of reports suggesting that the US economy is still strong, although inflation may also be on the rise, as reported by Elaine Kurtenbach and Matt Ott for the Associated Press (AP).

The S&P 500 was up 0.7% in midday trading. The Dow Jones Industrial Average had gained 243 points, or 0.7%, reaching 34,819 as of 11 a.m. Eastern time, and the Nasdaq composite was 0.8% higher.

The S&P 500 was up 0.7% in midday trading. The Dow Jones Industrial Average had gained 243 points, or 0.7%, reaching 34,819 as of 11 a.m. Eastern time, and the Nasdaq composite was 0.8% higher.

Some of the most notable action was in the bond market, where Treasury yields fluctuated several times in response to mixed economic data.

One report indicated that US shoppers spent more at retailers last month than economists had anticipated.

This consumer spending has played a crucial role in keeping the economy out of a recession, but it may also encourage retailers to continue raising prices. This strong spending is a result of a remarkably resilient job market, which has endured a significant increase in interest rates since early last year.

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