NEW YORK (AP) - Wall Street barreled higher in early trading Friday after the week's most anticipated economic reading indicated that inflation excluding the price of gas remained tepid last month, easing some concerns that have jolted stock and bond markets in recent sessions. The Dow Jones industrials rose more than 100 points.

The consumer price index showed prices rose at the fastest pace in 20 months last month as the price of gas jumped. However, the so-called core personal consumption price index, which excludes often volatile food and energy prices, rose a lower-than-expected 0.1 percent. The figure, which the inflation-weary Federal Reserve watches closely, was below the 0.2 percent increase Wall Street expected.

Friday's session follows a strong surge in stocks and could see added volatility because of the expiration of four types of options contracts - an occurance known as quadruple witching.

In the first minutes of trading, the Dow jumped 108.44, or 0.80 percent, to 13,662.16.


The climb puts the Dow back near its trading high of 13,692.00, reached June 1. The move higher follows sharp gains Wednesday and Thursday that marked the Dow's best two-day advance since last July after figures on wholesale prices excluding food and energy costs showed inflation rose at a modest pace.

Broader stock indicators also rose. The Standard & Poor's 500 index rose 9.59, or 0.63 percent, to 1,532.56. The index approached its trading high of the year of 1,540.56 and advanced toward its record trading high of 1,552.87 set in March 2000. The Nasdaq composite index rose 27.75, or 1.07 percent, to 2,627.16.

Bond yields on the 10-year note fell to 5.20 percent from 5.23 percent late Thursday after release of the CPI report.

I thought it went up because Paris went back to jail.

__________________
How soon do we get our rebates, free health care, lower taxes, better schools, and cheap energy?

DOES THAT MEAN "THE INVESTOR CLASS" ARE JUMPING UP AND DOWN!!!!!

__________________
AMERICA LAND OF THE FREE HOME OF THE BRAVE--BECAUSE OF OUR CONSTITUTION.

the investor class is 90% of americans....

That is the % of americans that have equity in the markets.... And the way the markets have been goinf for the last 5 years i seriuosly hope you are in there aswell

True true.......even a single father student working 2 jobs has money in the market these days.............

Whats that saying, you have to play to win?

__________________
Hey its me, Allah!

Where does this 90% figure come from? What is your source?

If the Dow going up 100 points is big news, I guess that people who can worry about the Dow don’t have to worry about the cost of gas and groceries.

Consumer prices surged in may at the fastest pace in 20 months.According to the government-weekly earnings for non-supervisory employees fell by 0.2 percent last month,the 4th decline in the past 5 months.

__________________
I respect your right to have your own opinion,but I do not necessarily respect your opinion.

i read it in the journal... have spent the whole weakend looking for the article but all i get are articles about the suppoesed housing bubble...

you forget to mention that inflation was 100 % lower then the projecte numbers... Thats why the dow jumped almost 400 pt's in 3 days.....