NEW YORK — U.S. stocks are rising after the latest update on inflation appeared to clear the way for more help for the economy from the Federal Reserve. The S&P 500 rose 0.5% in early trading Wednesday and is on track to break its first two-day losing streak in nearly a month. The Dow Jones Industrial Average rose 103 points, or 0.2%, and the Nasdaq composite added 0.8%.
The Fed has been easing its main interest rate from a two-decade high since September to take pressure off the slowing jobs market, after bringing inflation nearly down to its 2% target. Lower rates would help give support to the economy, but they could also provide more fuel for inflation. Shares of Kroger stabilized early Wednesday following a more than 5% decline late Tuesday when the supermarket giant's proposed merger with Albertsons was nixed by judges in separate cases in Oregon and Washington. The grocery stores contend the merger would help them better compete with big retailers like Walmart, Costco and Amazon, but critics of the deal, including the Federal Trade Commission, said the tie-up would hurt competition.
In Europe at midday, Germany’s DAX was flat, while the CAC 40 in Paris and Britain’s FTSE 100 each gained 0.3%. South Korea's market rose for a second straight day, recovering from last week's political turmoil. The Kospi added 1% to 2,442.51.
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