Stock Market Today: Stocks Rise as Inflation Weakness Begins to Abate
- 8 years ago
Stocks rose at market open Wednesday as an unexpected increase in producer prices showed inflation pressures beginning to subside, a positive sign for the U.S. economy.
The S&P 500 added 0.79%, the Dow Jones Industrial Average was up 0.65%, and the Nasdaq jumped 0.9%.
Producer prices unexpectedly rose in January, up 0.1% compared to an expected 0.2% decline.
Core prices, excluding volatile items such as food and energy, rose 0.2% and are up 0.8% over the past 12 months.
The reading proves a positive for inflation which has been weighed down by a slump in commodity prices.
Industrial production in the U.S. climbed 0.9% in January, three times the increase analysts had expected.
Sharper growth indicated fears over the health of the U.S. economy, particularly in manufacturing, may have been overblown.
The S&P 500 added 0.79%, the Dow Jones Industrial Average was up 0.65%, and the Nasdaq jumped 0.9%.
Producer prices unexpectedly rose in January, up 0.1% compared to an expected 0.2% decline.
Core prices, excluding volatile items such as food and energy, rose 0.2% and are up 0.8% over the past 12 months.
The reading proves a positive for inflation which has been weighed down by a slump in commodity prices.
Industrial production in the U.S. climbed 0.9% in January, three times the increase analysts had expected.
Sharper growth indicated fears over the health of the U.S. economy, particularly in manufacturing, may have been overblown.