New York Report: Dow goes up with inflation

US STOCKS rose yesterday as data pointing to higher inflation lifted shares while high-growth tech names attracted renewed attention.

The Dow Jones was up 27.48 points or 0.16 per cent, to end at 16,808.49. The S&P 500 gained 4.21 points or 0.22 per cent, to 1,941.99, while the Nasdaq Composite added 16.13 points or 0.37 per cent, to finish on 4,337.23.

US inflation rose 0.4 per cent in May, the biggest gain in more than a year, pushing investors to sell some US government debt.

Shares in software giant Adobe rose more than six per cent to $71.74 in after-hours trading after it reported its second-quarter results and gave a strong outlook.

Yingli Green Energy shares soared 10.5 per cent to $3.89 after the Chinese solar panel maker reported a quarterly net loss that was almost halved, citing cost controls and a small rise in prices.

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