US stocks rise on moderate China inflation
In this Thursday, April 4, 2013, file photo, trader Luigi Muccitelli, right, works on the floor of the New York Stock Exchange Thursday, April 4, 2013. Asian stock markets were mixed Monday April 8, 2013 amid concerns about tensions on the Korean Peninsula and bird flu in China, but European stocks rose as traders looked ahead to corporate earnings season in the U.S. AP
NEW YORK—US stocks took their cue from international markets Tuesday and moved higher following news of slowing inflation in China.
Five minutes into trade, the Dow Jones Industrial Average rose 27.26 (0.19 percent) to 14,640.74.
The broad-based S&P 500 gained 2.74 (0.18 percent) to 1,565.81, while the tech-rich Nasdaq Composite Index jumped 7.17 (0.22 percent) to 3,229.42.
Stock markets were mostly higher in Europe and Asia, although Japan’s Nikkei 225 fell slightly.
Official data showed that China’s inflation rate slowed faster than expected, news that will allow the central Bank of China to hold off on tightening monetary policy.
Article continues after this advertisement“All else equal, the more growth there can be in China, the more demand there will ultimately be for basic materials,” said Briefing.com‘s Patrick O’Hare.
