Wall Street rises after tame inflation supports patient Fed; Boeing drags Dow

- U.S. stocks rose on Tuesday after tame inflation data supported the Federal Reserve’s dovish stance on future rate hikes, but Boeing’s fall for a second straight day in a row pressured the Dow.

“The takeaway from the data was that inflation is in check and that would allow the Fed to remain patient and that is always good for equities,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance in Charlotte, North Carolina. “The airlines industry as a whole is now exposed to political pressure and potentially some industry pressure that wasn’t there a few days ago,” Zaccarelli said.

At 12:31 p.m. ET the Dow Jones Industrial Average was down 74.29 points, or 0.29 percent, at 25,576.59, the S&P 500 was up 11.88 points, or 0.43 percent, at 2,795.18 and the Nasdaq Composite was up 49.37 points, or 0.65 percent, at 7,607.44.

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