Updated from 1:06 p.m. ESTThe stock and bond markets were not to be spooked on this Halloween, even one day ahead of another universally expected rate hike by the Federal Reserve. Still, economic data released Monday morning did little to assuage economists' concerns about both inflation and growth in the fourth quarter. Monday's data -- the Chicago Purchasing Managers Index (PMI) for October, and personal income and spending data for September -- revealed signs of consumer fatigue while suggesting enough inflationary pressures to keep the Fed raising rates well into next year. But stocks and bonds have spent two months trying to overcome inflation concerns since hurricanes Rita and Katrina caused a spike in energy prices. And while the impact of surging energy quotes and of higher interest rates on consumption and growth is still being determined, markets already expect the Fed to continue hiking rates at least until early next year to ward off inflation. Equities players, therefore, saw no compelling reasons to interrupt Friday's impressive rally. In recent action, the Dow Jones Industrial Average was up 63 points, or 0.6%, at 10,466. The blue-chip average received an early lift from Wal-Mart ( WMT), which said October same-store sales should be up 4.3% from a year ago, above its previous 2% to 4% forecast. In addition, Caterpillar ( CAT) was recently up nearly 3% after forecasting compounded average earnings growth of 15% to 20% until 2010. The S&P 500 was up 10 points, or 0.9%, at 1209. Energy shares were also rallying, even as crude oil prices dropped, after Valero's ( VLO) third-quarter results flew by Street expectations. The Nasdaq Composite was leading the pack, recently gaining 31 points, or 1.5%, at 2120. The Philadelphia Semiconductor Sector Index was up 2.3% in recent action, led by a 3.5% gain in Advanced Micro Devices ( AMD). The benchmark 10-year Treasury bond was recently up 4/32, while its yield, which moves inversely to price, fell to 4.55%.