U.S. stock indexes rose Wednesday morning on news that price inflation came in under expectations.

The U.S. Labor Department said the consumer price index rose 0.2 percent, below the 0.3 percent rise analysts had predicted.

The Dow Jones industrial average gained quickly, adding 93.23 points in midmorning trading to 12,925.41, up 0.73 percent. The Standard and Poor's 500 index rose 9.80 points to 1,412.84, up 0.7 percent. The Nasdaq composite index was up 21.01 points to 2,516.13, up 0.84 percent.

The 10-year U.S. Treasury note gained 6/32 to yield 3.89 percent.

The dollar gained. The euro traded at $1.5446 from Tuesday's $1.5478 and the dollar traded at 105.11 yen from Tuesday's 104.79 yen.

In Tokyo, the Nikkei index gained 164.82 points to 14,118.55, up 1.18 percent.

Copyright 2008 by United Press International


Publication date: 14 May 2008   

Source: UPI-1-20080514-10154200-bc-us-markets.xml

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