By Liz Moyer
Investing.com -- U.S. stocks were rising after more data showed inflation is cooling, easing fears about Federal Reserve interest rate increases.
At 11:14 ET (15:14 GMT) the Dow Jones Industrial Average was up 137 points or 0.4%, while the S&P 500 was up 0.6% and the NASDAQ Composite was up 1.3%.
Producer prices were weaker than expected for March, and jobless claims edged above expectations. That could ease fears about the Fed taking an aggressive stance on interest rates when it meets in early May.
The Labor Department said producer prices rose 2.7% in the year through March, versus expectations for a 3% increase. Jobless claims came in at 239,000 last week, versus expectations for 232,000.
On Wednesday, the consumer price index for March was also cooler than expected. And the Fed released the minutes of its meeting in March when policymakers raised concerns about a recession after last month's turmoil in the banking sector.
Futures traders are now betting that the Fed will raise rates by a quarter of a percentage point in May.
On Friday, first quarter earnings season kicks off with the big banks reporting, including JPMorgan Chase (NYSE:JPM), Citigroup (NYSE:C), and Wells Fargo (NYSE:WFC), and investors will watch them closely for details about the health of the American consumer.
S&P 500 companies are expected to report a 5.2% drop in first-quarter profit.
Shares of Delta Air Lines (NYSE:DAL) fell 1.7% after the carrier reported disappointing first quarter earnings but said its second quarter outlook was strong.
Oil was falling. Crude Oil WTI was down 0.1% to $83.21 a barrel, while Brent crude was down 0.2% to $87.14 a barrel. Gold Futures rose 1.4% to $2,054.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.