U.S. stocks closed broadly higher on Wednesday as optimism about strong economic recovery outweighed concerns about inflation and possibility of interest rate hikes happening next year.
Investors reacted to data on private sector employment, pending home sales and the reading on Chicago Business Barometer, and looked ahead to crucial non-farm payrolls data, due on Friday.
The surge in infections due to the delta variant of the coronavirus, and curbs on travel in several countries raised some uncertainty about the pace of global economic rebound and rendered the mood cautious.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.