Frankfort, New York Price data welcomed with relief eases selling pressure on Wall Street. The US standard value index Dow Jones closed 0.1 percent up on Wednesday at 31,135 points. The broad-based S&P 500 and the tech-heavy Nasdaq closed up as much as 0.8 percent.
“Pretty much anything is welcome after yesterday’s sell-off,” said Hugh Johnson, chief economist at research house Hugh Johnson Economics. This can be seen in the producer prices, which are largely in line with expectations. Their increase narrowed to 8.7 from 9.8 percent year-on-year.
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