Stocks shrug off inflation data

Wall Street is shrugging off inflation concerns Wednesday.

The Dow ticked up slightly mid-morning after the Labor Department reported consumer prices rose 2.1% over the past year. Inflation rose more than economists had predicted.

The Federal Reserve targets 2% inflation. Investors worry that as it creeps higher, the Fed will hike interest rates more quickly than planned to tap the breaks on the economy. That would make the cost of borrowing higher, cool down growth and put a damper on corporate...

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