NEW YORK (AP) _ Stock prices are higher in early trading. The Dow Jones Industrial Average is up 51 points. Advancers on the New York Stock Exchange hold a 3-2 lead over decliners. The Nasdaq is up 25 points and the S&P 500 Index is up five points.
Wall Street sure seems optimistic about next Tuesday’s policy meeting at the Federal Reserve. The brighter outlook comes after the release of some key economic data. Taken together, the October retail sales report and the third-quarter productivity data show the economy on a steady pace, without a build-up of inflationary pressures.
Bond prices shot higher on the news. Also, investors will get a chance today to react to Dell’s earnings, which matched analysts’ estimates. An increase in Dell stock could help the Nasdaq composite index to another high.
The index closed at its ninth record high in ten trading days yesterday.