New York, Sept 14 (AFP\/APP):Wall Street stocks rose early Tuesday following data that showed a moderation in consumer prices, lessening the odds of an abrupt shift in US monetary policy.<\/p>\n
US consumer prices climbed just 0.3 percent in August compared to July, below analyst forecasts and a level that supports the Federal Reserve’s argument that much of the recent inflation spike is due to temporary factors that will fade.<\/p>\n
The report had been closely watched for its implications on when the Fed will taper its massive bond purchases.<\/p>\n
“Today’s report should allow the Fed to remain patient with a taper announcement,” said a note from Wells Fargo, adding it expects a Fed announcement in November or December about slowing is stimulus.<\/p>\n
“While this is a material cooling from recent months, it is still historically firm,” said the note.<\/p>\n
About 15 minutes into trading, the Dow Jones Industrial Average was at 34,949.54, up 0.2 percent.<\/p>\n
The broad-based S&P 500 added 0.2 percent at 4,477.21, while the tech-rich Nasdaq Composite Index advanced 0.3 percent to 15,148.97.<\/p>\n
The early gains came on the heels of Monday’s mostly positive session. Stocks lost ground last week amid worries over the Delta variant of Covid-19 and the trajectory of US monetary policy.<\/p>\n
Analysts also are monitoring the latest actions on Capitol Hill, including a Democratic proposal to lift taxes on the wealthy and on large companies.<\/p>\n","protected":false},"excerpt":{"rendered":"
New York, Sept 14 (AFP\/APP):Wall Street stocks rose early Tuesday following data that showed a moderation in consumer prices, lessening the odds of an abrupt shift in US monetary policy. US consumer prices climbed just 0.3 percent in August compared to July, below analyst forecasts […]<\/p>\n
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