The Globe and Mail reports in its Friday edition that Wall Street stocks closed lower on Thursday as traders were surprised by data showing slower-than-expected U.S. economic growth and persistent inflation. A Reuters dispatch to The Globe says that Canada's main stock index managed to close slightly higher thanks to a rally in the gold sector, though a spike in North American bond yields kept interest-rate-sensitives on the defensive. Data on Thursday showed that the U.S. economy grew at its slowest pace in nearly two years in the first quarter while inflation accelerated, dampening hopes that the Federal Reserve would begin cutting interest rates this year. Disappointing results from Meta Platforms, whose shares plunged nearly 11 per cent, also weighed on market sentiment. The hot inflation reading also sent bond yields climbing. The U.S. 10-year Treasury yield rose to its highest level since Nov. 1. Canada's five-year yield was up 10 basis points to also its highest level since last fall. The S&P/TSX Composite Index ended up 11.66 points at 21,885.38. The materials group rallied 2.2 per cent as gold and copper prices climbed. Teck and Bombardier climbed more than 8 per cent, but Mullen Group sank 9.1 per cent.