Stocks climb again after shaky start

Boston Herald - - OPINION -

In­vestors saw new hints that in­fla­tion is in­creas­ing yes­ter­day, but still sent banks, tech­nol­ogy firms, and con­sumer-fo­cused com­pa­nies climb­ing.

After a shaky start, stocks rose for the fourth straight trad­ing day, even as bond yields reached four-year highs. The move in yields came after the gov­ern­ment said con­sumer prices climbed in Jan­uary at a slightly faster pace than was fore­cast.

Stocks plunged Feb. 1 after the La­bor Depart­ment said wages grew rapidly in Jan­uary. In­vestors wor­ried that meant in­fla­tion was ris­ing and that in­ter­est rates would rise more quickly. But yes­ter­day's re­ports in­di­cated in­fla­tion isn't ris­ing that fast.

The Stan­dard & Poor's 500 in­dex rose 35.69 points (1.3 per­cent), to close at 2,698.63. The Dow Jones in­dus­trial av­er­age added 253.04 points (1 per­cent), to 24,893.49. The Nas­daq com­pos­ite climbed 130.10 points (1.9 per­cent), to 7,143.62. The Rus­sell 2000 in­dex of smaller-com­pany stocks rose 27.15 points (1.8 per­cent), to 1,522.10.

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