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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: willcousa who wrote (15033)	5/18/2005 10:12:09 AM
From: Proud_Infidel	Respond to of 25522

Stocks Rally on Benign Inflation Data Wednesday May 18, 9:55 am ET By Seth Sutel, AP Business Writer Stocks Move Higher on Relatively Benign Reading of Inflation in Consumer Prices NEW YORK (AP) -- Stocks moved higher in early trading Wednesday after the government reported a relatively benign reading of inflation in consumer prices. In the first hour of trading, the Dow Jones industrial average rose 36.59, or 0.4 percent, to 10,368.47. Broader stock indicators were also higher. The Standard & Poor's 500 index was up 4.20, or 0.4 percent, to 1,178.00, and the Nasdaq composite index rose 3.18, or 0.2 percent, to 2,007.33. The Labor Department reported before the market opened that the consumer price index, the most closely watched barometer of inflation, rose 0.5 percent in April, led by higher energy and food prices. But without the swings in those volatile price categories, inflation in what's known as core prices was flat in April, a major improvement from March, when that measure shot up by 0.4 percent, its largest gain in more than two years. The report provided relief to investors who had become worried about inflation, particularly after a separate reading of producer prices on Tuesday showed a higher-than-expected increase in wholesale prices. The Russell 2000 index of smaller companies was up 4.53 0.8 percent to 599.80. Overseas, Japan's Nikkei stock average rose 0.1 percent. In afternoon trading, Britain's FTSE 100 was up 0.8 percent, Germany's DAX index was up 1 percent, and France's CAC-40 was also up 1 percent.