U.S. Stocks Increase As Data Spur Speculation On Fed

Scott Eells/Bloomberg

Bloomberg News – By Inyoung Hwang – June 14, 2012

U.S. stocks rose as reports on inflation and jobless claims bolstered speculation the Federal Reserve will act to spur growth and investors awaited an election in Greece this weekend.

The Standard & Poor’s 500 Index gained 0.1 percent to 1,316.51 at 9:31 a.m. in New York.

“The worse the numbers are in the U.S., the greater the pressure the Federal Reserve will have to increase their monetization plan,” Chad Morganlander, a Florham Park, New Jersey-based money manager at Stifel Nicolaus & Co., which oversees about $115 billion of assets, said in a telephone interview. “There’s a modest amount of optimism that the Greek vote will bode well for the markets. Investors are sitting on their hands waiting for Sunday’s vote.”

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