U.S. stocks traded slightly higher toward the end of trading, with the Nasdaq Composite gaining around 50 points on Thursday.
The Dow traded down 0.03% to 33,036.50 while the NASDAQ rose 0.46% to 11,559.92. The S&P 500 also rose, gaining, 0.22% to 3,999.74.
Mortgage rates are back on the rise due to a strong performance in retail sales and labor market data, along with positive monthly inflation readings. This has raised the prospect of the Federal Reserve continuing its interest rate hiking campaign through the summer.
U.S. stocks turned lower midway through trading, with the Dow Jones dropping around 150 points on Thursday.
The Dow traded down 0.47% to 32,889.30 while the NASDAQ fell 0.47% to 11,452.63. The S&P 500 also fell, dropping, 0.32% to 3,978.24.
Shares of online automobile marketplace Cars.com Inc (NYSE: CARS) are flying into Thursday’s trading session, up 11.85% after the company reported better-than-expected earnings along with upbeat forward guidance.