NEW YORK, LONDON—Wall Street’s major stock averages closed higher on Tuesday, steadying in the afternoon after early volatility while Treasury yields rose as investors waited anxiously for U.S. inflation data due later in the week.
The U.S. dollar was little changed versus the euro and other major currencies, hovering close to its weakest level in seven months as investors positioned themselves ahead of the December consumer price data due on Thursday.
U.S. Treasury yields rose as investors prepared themselves for how inflation numbers might influence the Federal Reserve’s interest rate hiking path as it has been prioritizing its fight against decades-high inflation….