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US sharemarkets small gains on Wednesday after a strong morning on Wall Street as stocks were buoyed a drop in oil prices and signs that inflation is easing in the world's largest economy.
At the close of trading on Wednesday, the Dow Jones industrial average rose by 66.20 points, or 0.52 percent, to close at 12,898.38, while the broader Standard & Poor's 500 index added 5.62 points, or 0.40 percent, to close at 1,408.66.
The technology-based Nasdaq composite ended just above unchanged, adding 1.58 points, or 0.06 percent, to close at 2,496.70.
The US Labor Department reported on Wednesday that inflation eased somewhat in April, although food prices jumped last month by their largest margin in 18 years. The report said inflation fell to 0.2 percent, slightly less than what was expected, after posting a 0.3 percent rise in March.
Market breadth was positive. On the New York Stock Exchange, winners topped losers by three to two on volume of 910 million shares, while on the Nasdaq, advancers topped decliners by a narrow margin on a turnover of 1.71 billion shares.
(c) NewsRoom 2008
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