Wall Street shrugs off inflation data

Robert Schein, chief investment officer at Blanke Schein Wealth Management, told Reuters on Monday that the data will be used to confirm whether the Fed's efforts have been successful in starting to tame inflation or if continued Fed tightening is needed.

The Dow Jones industrials edged up 29.097 points or 0.09 percent to 12,832. The Nasdaq Composite declined 13.10 points or 0.10 percent to 12,644. The Standard and Poor's 500 dipped 5.13 points or 0.12 percent to 4,140. The U.S. dollar was little changed. Around New York City, the euro was trading at 1.0195. The British pound weakened slightly to n 1.2081. The Japanese yen was soft at 135.02. The Swiss franc was unmoved at 0.9557.

The Australian dollar was bought up at 0.6984. The German Dax jumped 0.84 percent on overseas equity markets. The Paris-based CAC 40 increased by 0.80 percent. The FTSE 100 rose by 0.57 percent in London.

In Japan, the Nikkei 225 gained 73.37 points or 0.26 percent to 28,249. The Australian All Ordinaries added 9.20 points or 0.13 percent to 7,259. South Korea's Kospi Index went up 2.30 points or 0.09 percent to 2,493. The S&P NZX 50 fell 25.66 points or 0.22 percent to 11,702 against the trend. The Hang Seng in Hong Kong closed down 156.17 points or 0.77 percent at 20,045.