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Wall Street stocks rose early Wednesday, resuming their upward trend following a benign US inflation report and strong results from Twitter. Both the Dow and S&P 500 edged lower Tuesday, but major indices were all higher Wednesday as data showed overall the Consumer Price Index rose just 0.3 percent in January. Analysts said the tepid reading on inflation will likely ensure that the Federal Reserve maintains its posture for low interest rates. About 30 minutes into trading, the Dow Jones Industrial Average was up 0.3 percent at 31,468.83. The broad-based S&P 500 gained 0.6 percent to 3,927.20, while the tech-rich Nasdaq Composite Index advanced 0.7 percent to 14,098.78. Major indices have repeatedly hit records early in 2021 as markets anticipate more US fiscal stimulus and an economic rebound with coronavirus vaccines. Among individual companies, Twitter jumped 11.5 percent as it reported sizeable increases in its user base and its ranks of "monetizable" daily active users. Twitter reported its profit nearly doubled from a year earlier to $222 million on revenue that soared 28 percent to a record $1.29 billion. jmb/hs
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2021-02-10

