US markets end mostly higher on Wednesday
The Labor Department said its consumer price index climbed by 0.4 percent in September after rising by 0.3 percent in August
The US markets ended mostly higher on Wednesday as a report from the Labor Department showed consumer prices rose by slightly more than expected in September, but the data was not seen as likely to accelerate the Federal Reserve's tapering plans. The Labor Department said its consumer price index climbed by 0.4 percent in September after rising by 0.3 percent in August. Street had been expecting another 0.3 percent increase. Excluding higher prices for food and energy, core consumer prices edged up by 0.2 percent in September after inching up by 0.1 percent in August. The uptick in core prices matched street estimates.
The report also showed the annual rate of growth in consumer prices accelerated to 5.4 percent in September from 5.3 percent in August, while the annual rate of growth in core prices was unchanged at 4.0 percent. On the earnings front, shares of Delta Air Lines (DAL) moved sharply lower after the airline beat third quarter estimates but warned of a fourth quarter loss due to higher fuel costs. JPMorgan Chase (JPM) also moved to the downside even though the financial giant reported third quarter results that exceeded street estimates on both the top and bottom lines. On the other hand, asset management firm Blackrock (BLK) posted a strong gain after reporting better than expected third quarter earnings and revenues.
Nasdaq rose 105.71 points or 0.73 percent to 14,571.63 and S&P 500 was up by 13.15 points or 0.3 percent to 4,363.8, while Dow Jones Industrial Average declined 0.53 points to 34,377.81.