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U.S. Stocks Seeing Modest Strength Following Tame Inflation Data
['Afx News']
FinanzNachrichten.de: News
WASHINGTON (dpa-AFX) - Stocks are seeing some strength during trading on Wednesday, partly offsetting the weakness seen over the two previous sessions.
Stocks moved mostly higher early in the session following the release of relatively tame inflation data, which helped ease concerns about the outlook for interest rates.
The Labor Department said consumer prices inched up by 0.1 percent in July after falling by 0.4 percent in June.
The report also said core consumer prices, which exclude food and energy prices, rose by 0.2 percent in July after coming in unchanged in June.
The annual rate of growth by consumer prices edged down to 3.4 percent in July from 3.5 percent in June, while the annual rate of growth by core consumer prices slipped to 2.5 percent in July from 2.6 percent in June.