Market Watch: Investors Turn To Inflation News After Quiet Fed Statement

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U.S. stocks were higher Thursday, as investors moved on from the Federal Reserve’s statement to eye inflation data.

The Federal Reserve not only avoided raising interest rates, they offered little in the way of hints as to the eventual timing of such a hike, although Fed Chair Janet Yellen did admit that most committee members foresee a rate hike in the future at some point this year.

The Consumer Price Index (CPI) rose 0.4 percent in May–the largest increase in over two years. This put the year-over-year pace at 1.8 percent, with core inflation at 1.7 percent—just below the Federal Reserve’s target of 2 percent.

Meanwhile Europe was under pressure Thursday, as Greek stocks plunged to a new three-year low.

Here are the final numbers from Thursday on Wall Street:

Dow Jones Industrial Average: 18,115.84 (+180.10)

NASDAQ: 5,132.95 (+68.07)

S&P 500: 2,121.24 (+20.80)

Phil Cannella
Partnered with CBS Radio Network, Phil Cannella reports on the issues most important to the American retiree.
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