Stocks on Wall Street were generally higher after General Electric reported strong profit growth for the quarter and smaller inflationary pressures alleviated interest rate considerations, albeit momentarily. The Dow Jones Industrial Average rose 0.2 percent to 10,239.80 while the S&P 500 index added 0.4 percent to 1,181.03. Subsequently, the Nasdaq composite was higher by 0.2 percent at 2,051.75. Rising 15 percent, quarterly profits for General Electric rose on higher demand for its wide array of products along with a stake in a mortgage and life insurance company. As a result, investors bid shares higher by 1 percent to $34.36.
Fixed income markets fell for the fourth consecutive day as traders witnessed inflation rise the most in 25 years on climbing energy prices. As a result, spurred by further interest rate hike considerations, the 10-year benchmark note rose 5 basis points to 4.52 percent as the face value fell $5 to 97 37/32.