Stocks head higher as inflation pressure eases

November 14, 2012 - 11:34 AM

Stock indexes are edging higher in early trading on Wall Street after the U.S. government reported that wholesale price inflation eased last month for the first time since May.

The Dow Jones industrial average is up 11 points at 12,767 shortly after the opening bell Wednesday.

The Standard & Poor's 500 index rose four points to 1,378 and the Nasdaq composite index rose 15 points to 2,899.

The Labor Department said wholesale prices slipped 0.2 percent in October as gasoline, and energy prices as a whole, trailed off. Food prices rose because of drought conditions.

Teen retailer Abercrombie & Fitch's stock soared 29 percent after the company reported a 41 percent surge in income, more than analysts were expecting. The company also raised its estimate for full-year earnings.