September 16, 2009

U.S. markets advance early

U.S. markets shook off a recent trend of morning losses and advanced early Wednesday, with inflation data in line with expectations.

The U.S. Department of Labor said consumer prices rose 0.4 percent in August, in line with the consensus forecast. The figure is also strong enough to shake off worries of deflation, yet low enough to keep inflation worries at bay.

In midmorning trading, the Dow Jones industrial average gained 0.29 percent, 27.81 points, to 9,711.22. The Standard & Poor's 500 added 4.19 points, 0.41 percent, to 1,056.92. The Nasdaq composite index rose 0.38 percent, 8.06 points, to 2,110.70.

The benchmark 10-year Treasury fell 3/32 to yield 3.462 percent.

The euro fell to $1.4667 from Tuesday's $1.4676. Against the yen, the dollar fell to 90.63 yen from Tuesday's 91.06 yen.

In Tokyo, the Nikkei 225 index added 53.15 points, 0.52 percent, to 10,270.77.