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Stocks post gains
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August 17, 1999: 4:10 p.m. ET
CPI report eases inflation and interest rate fears, leads to market advance
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NEW YORK (CNNfn) - U.S. stock markets spent the day in hesitation but rebounded in the last hour of trading, supported by a strong rally in bonds and news that consumer inflation remains contained, a piece of data that assured investors any interest rate increase would be a one-time event.
According to preliminary data, the Dow Jones industrial average gained 69.97 points to close at 11,116.76. Market breadth on the New York Stock Exchange remained positive throughout the day, with advances beating declines 1,828 to 1,158 as 695 million shares changed hands.
The Nasdaq Composite rose 25.96 to 2,671.24 and the S&P 500 index advanced 13.34 to 1,344.11.
The bond market rallied, drawing strength from news that inflation at the consumer level remains contained. The bellwether 30-year Treasury bond rose 1-1/32 points in price, lowering the yield to 6.01 percent from Monday's 6.09 percent.
The dollar rose against the euro but lost modest ground against the yen. 
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