Data was of importance during Wednesday trade as an uptick in utility output carried U.S. industrial production higher. U.S. industrial production rose 0.9 percent in December versus expectations of a 0.4 percent increase.
The Federal Reserve's so-called Beige Book revealed that the central bank believes the U.S. economy and inflation are expanding. Multiple Fed districts documented increases in manufacturing and construction, while the body remains optimistic that latent pricing will rise in 2018.
Bonds have been of key importance recently, after big swings in U.S. Treasury yields and news surrounding China.
Last Wednesday, Bloomberg reported, citing people familiar with the matter, that officials in Beijing had recommended that China's government lowers — or even potentially ceases — its buying of U.S. sovereign debt. China's currency regulator has since dismissed the report, which helped ease sentiment for investors across many markets.
Markets remain on edge, as concerns over a possible government shutdown weighs on sentiment. By the end of Friday, Congress has to pass a spending bill in order to prevent a government shutdown; however, Democrats and Republicans remain at odds over an immigration bill that the Democratic Party wants to pass.
—CNBC's Fred Imbert contributed to this report