The Fed’s suggestion of an autumn pause in rate hikes had stocks on the move Thursday, but growth concerns are kept bond yields low.

U.S. stocks closed firmly higher Thursday, extending the Dow’s winning streak to a fifth consecutive session, as investors weighed the impact of the Federal Reserve’s inflation fight against a mixed of challenges facing the global economy.

Stocks were also unphased after the Commerce Department revised its estimate of first quarter GDP growth to show a 1.5% contraction, while continuing unemployment claims edged modestly higher, to 1.346 million for the week ending on May 14.

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