US stocks rose on Thursday as inflation data boosted hopes that the Federal Reserve won't have to raise interest rates and may even cut them early next year, but Dell Inc fuelled caution regarding the technology sector after it delayed its earnings report.
A drop in Sears Holdings Corp's shares after a disappointing sales report also kept a broader market advance in check, overshadowing a burst of deal news, including Clear Channel Communications Inc's proposed buyout by private equity firms. Exxon Mobil was the top drag on both the Dow and the S&P 500 whose stock was down 2 percent
The Dow Jones industrial average was up 62.35 points, or 0.50 percent, at 12,314.06. The Standard & Poor's 500 Index was up 4.22 points, or 0.30 percent, at 1,400.79. The Nasdaq Composite Index was up 5.17 points, or 0.21 percent, at 2,447.92. Boeing shares were up 2 percent at $88.80 on the New York Stock Exchange. Shares of Clear Channel rose 3.7 percent to $35.38 on the NYSE after the No 1 US radio company reached an agreement with an investment group to be bought for $37.60 a share.