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US-STOCKS-MARKETS-OPEN
US stocks rise again after modest inflation data
NEW YORK, June 11, 2019 (BSS/AFP) – Wall Street stocks opened higher again Tuesday on expectations for dovish central bank policy after another report showing modest US inflation.
The Labor Department’s reading of producer prices rose 0.1 percent in May, on par with expectations and corroborating the view that pricing pressure remains limited.
About 15 minutes into trading, the Dow Jones Industrial Average stood at 26,182.46, up 0.5 percent. The index has risen the last six days.
The broad-based S&P 500 gained 0.6 percent to 2,903.62, while the tech-rich Nasdaq Composite Index advanced 0.7 percent to 7,881.22.
After a weak May, US stocks have been on the upswing again in June as Federal Reserve officials have signaled they could cut interest rates in the coming months if the US economy slows.
Analysts also pointed to relief after President Donald Trump last week withdrew a plan to impose tariffs on Mexican goods following negotiations on illegal immigration.
BSS/AFP/MMA/2104HRS