Economic news

Wall Street rises for fourth consecutive day

U.S. stocks rose on Wednesday as financial and tech sectors led the surge despite strong consumer-inflation reading.

Photo: Reuters

The Dow Jones Industrial Average soared 1.03 percent to close at 24,893.49 while the S&P 500 leaped 1.34 percent to 2,698.63. The Nasdaq Composite gained 1.86 percent to 7,143.62.

Shares of Facebook advanced 3.7 percent while and Apple both soared more than 1.8 percent.

U.S. retail sales slipped 0.3 percent in January compared to the previous month. Consumer Price Index rose 0.5 percent last month and held steady at 2.1 percent on an annualized basis.

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