September 1, 2006


U.S. stocks rally; major averages at 3-month closing highs (Leslie Wines, Sep 1, 2006, CBS MarketWatch)

U.S. stocks closed with major averages all at their best levels in three months, following news that wage inflation was tamer than expected last month, while other data showed that consumers stayed optimistic and factory activity remained healthy. "I think this news is just what the Fed is looking for," said Jeff Kleintop, chief investment strategist at PNC Wealth Management. "The fact that wage inflation is heading down is a shot in the arm."

Posted by Orrin Judd at September 1, 2006 6:00 PM
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