U.S. stocks were higher on the morning of the 11th, with the Dow up $604 and the Nasdaq also gaining as long-term interest rates declined on the view that the consumer price data was broadly in line with expectations.
The Dow rose $604 in the New York stock market on the morning of the 11th, while the Nasdaq also gained. The prevailing view was that the morning's move was partly driven by short covering.
The U.S. consumer price data released was considered broadly in line with expectations, and there was speculation that the decline in long-term interest rates acted as a market catalyst.
Although short-term movements are fluctuating at this stage, the market is expected to remain in a wait-and-see mode pending further reports.