Dow Ends Up 97 on Tame Inflation Data

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Wall Street emerged from the summer doldrums Wednesday as a second straight day of tame inflation data sent stocks sharply higher and pushed the Dow Jones industrials to its highest level in three months. Falling crude futures, which slid below $72 per barrel, also fueled the gains, the Associated Press reports.


The consumer price index, which measures price increases at the retail level, rose 0.4 percent in July, slightly higher than June’s 0.2 percent increase. But with food and fuel prices removed, so-called “core” CPI rose just 0.2 percent, less than the 0.3 percent economists expected.


According to preliminary calculations, the Dow rose 96.86, or 0.86 percent, to 11,327.12, its best close since May 16. The Dow has gone up nearly 229 points in two days. Broader stock indicators also advanced. The Standard & Poor’s 500 index added 9.85, or 0.77 percent, to 1,295.43, its highest level since May 11, and the Nasdaq composite index gained 34.53, or 1.63 percent, to 2,149.54 for its best close since July 6.


Read the full Associated Press story

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Today’s Winners & Losers


Virco Manufacturing Corp. finished up 10.2 percent to close at $4.85 while Iris International Inc. gained 8 percent to close at $8.77 and Korn/Ferry International gained 8 percent to close the day at $20.30.


On the other end were Sport Chalet Inc., which lost 4.5 percent to close at $7.91, National Mercantile Bancorp, which lost 3.8 percent to close at $12.16 and Prospect Medical Holdings Inc., which finished the day down 3.7 percent to close at $5.78 a share.

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