Stocks powered ahead Friday as Wall Street celebrated the good news that wholesale inflation in the United Stateshas stayed almost the same in the last month. The Dow Jones industrial average gained 84.72 points, at 7,572.48. For the week, it fell 8.84 points. In the broader market, advances led by declines 1,919 to 976 on active volume of 634 million shares on the NYSE. The Nasdaq composite index rose 25.77 points, closing at 1,583.51. The inflation report says wholesale prices rose only 0.1 percent in October. The US Labour Department says prices at the wholesale level ticked upward last month, but the increase was mild and inflation fears were not fanned. The Department's Producer Price Index rose 0.1%. But the so-called core rate, which excludes more volatile food and energy products, was unchanged after rising 0.4% in September. Analysts say the report suggests the economy continues to expand steadily, with little evidence of inflation
Source: Flight Daily News
