Wall Street rallies closer to records as US economy holds up better than feared WPXI [Video]

NEW YORK — (AP) — Wall Street is rallying following signals the U.S. economy is holding up better than expected. The S&P 500 was up 1% early Thursday. The index is on track for a sixth straight gain following a scary few weeks. The Dow Jones Industrial Average was up 518 points, or 1.3%, and the Nasdaq composite rose 1.2%. Treasury yields leaped in the bond market following the encouraging economic data. One report said U.S. shoppers increased their spending last month by much more than economists had forecast. Another said fewer workers applied for unemployment benefits. Walmart soared after delivering a bigger profit than expected.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

TOKYO (AP) — Global shares were mostly higher Thursday after the latest report on U.S. inflation came in almost exactly as economists expected and data on Japan’s economy showed relatively healthy growth.

France’s CAC 40 edged up 0.2% in …