Stocks end higher as inflation data spurs cautious gains
Health care and tech led a broad stock advance pushing the S&P 500 to a record high and trimming weekly losses. The May CPI rose 5 percent, bigger than expected, driven partly by used car prices as rental fleets expand. Bond yields fell late as inflation was deemed likely temporary. The Dow and Nasdaq rose, while the Russell declined. Fed policy and G7 summit developments loom ahead.
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Unemployment claims dip as economy reopens in 2021
Medina County four week average of initial claims fell to 148 last week from 170, with Ohio and national totals showing a continued decline in unemployment benefits. Labor data show job openings at 9.3 million in April while claims remain high by historic standards and vaccination rollout supports the recovery.
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