US stocks rebound after disappointing inflation data

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AFP

New York (AFP) – Wall Street stocks finished a topsy-turvy session with strong gains Thursday following disappointing inflation data, while the pound rallied and the yen hit a new multi-decade low. US consumer prices rose 0.4 percent in September compared to August, twice the 0.2 percent projected by analysts, even as the annual increase in the consumer price index slowed slightly to 8.2 percent from 8.3 percent. The data are the latest sign inflation is becoming more ingrained in the US economy, despite numerous Federal Reserve actions to counter the trend. US stocks initially plummeted on th…

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