US stocks rose moderately yesterday as investors scooped up Internet, pharmaceutical and oil company shares at bargain prices, yet waited anxiously for today's report on consumer prices.
At the close of trading, the Dow Jones industrial average was up 31.66, or by 0.3 per cent, at 10,594.99.
Broader stock indicators were also modestly higher. The technology-laden Nasdaq composite index rose 16.28 to 2,414.59 and the Standard and Poor's 500 was up 7.29 at 1,301.29.
Advancing issues outnumbered decliners by a six-to-five margin on the New York Stock Exchange, with 1,650 up, 1,369 down and 550 unchanged.
NYSE volume totalled 693.11 million shares against 667.53 million in the previous session.
The NYSE composite index rose 2.68 at 622.28, and the American Stock Exchange composite index rose 1.23 at 763.92
The Russell 2000 index of smaller companies rose 2.49 at 434.02
Today's consumer price report for May is expected to provide important clues about inflation and whether the Federal Reserve will raise interest rates to slow the economy's growth when its open market committee meets on June 29th and 30th.
Traders were also looking forward to Federal Reserve chairman, Mr Alan Greenspan's testimony before Congress tomorrow for hints about what action the Fed will take.
