Stocks point higher after tame inflation reading - WKOW 27: Madison, WI Breaking News, Weather and Sports

Stocks point higher after tame inflation reading


NEW YORK (AP) -- Stock futures are rising on a government report that consumer prices remained flat last month rather than increasing as forecast.

  A weekly reading on unemployment also showed jobless claims declined.

  The flat reading on September's Consumer Price Index compares with August's 0.1 percent decline, which was the first in nearly two years.

  The core index, which eliminates food and energy prices, rose 0.1 percent. Economists had been expecting CPI would rise to 0.1 percent and core CPI would increase 0.2 percent.

  The Labor Department also says claims for unemployment benefits fell 16,000 last week to a seasonally adjusted level of 475,000 -- a greater decline than anticipated.

  Dow Jones industrial futures are up 149 at the 8,643 level, well above their levels of earlier trading.

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