In the bond market, though, worries remained about inflation potentially remaining high for years. The Nasdaq composite, which is full of artificial-intelligence stocks, rallied 2.8% a day after it fell 9.8% below its record set last month. Microsoft led the way and leaped 15.5% for its best day in nearly 18 years after reporting a stronger profit for the latest quarter than analysts expected. The sandwich chain’s stock fell 6% in its first day of trading on the New York Stock Exchange. Higher rates could keep a lid on inflation, but they can also slow the economy and undercut prices for stocks and other investments.