Dow Jumps 100; Nasdaq Climbs 57
NEW YORK (AP) _ The Dow Jones industrial average is up more than 100 points in the opening minutes of trading today. Advancing issues on the New York Stock Exchange hold an 8-5 lead over decliners.
The Nasdaq Composite Index is ahead 57 points and the Standard & Poor’s 500 Stock Index is up nine points.
Investors have been put in a good mood by the latest inflation news. Or, perhaps, by the lack of inflation.
The Labor Department reported that its producer price index was unchanged in January.
It was a better report than had been expected, and it comes a day before the department reports on prices at the consumer level, tomorrow.
Wall Street will also be watching today as Federal Reserve chairman Alan Greenspan delivers his semi-annual economic report to Congress.