Wall Street lifted by latest benign inflation data

REUTERS: U.S. stocks rose broadly on Wednesday with the S&P 500 index hitting a five-month high, after latest data backed the Federal Reserve's patient stance on future interest rate hikes.

Boeing Co pared gains to trade flat after Canada became the latest country to ground the company's best-selling 737 MAX jets following a second fatal crash in months. Technology shares rose 1.08 percent and provided the biggest boost to the benchmark S&P 500. The sector was propped up by Microsoft Corp and Apple Inc."The rally in tech stocks shows investors are confident that a trade deal will get done, it's just a matter of when," Nauman said.

At 12:49 p.m. ET, the Dow Jones Industrial Average was up 166.59 points, or 0.65 percent, at 25,721.25. The S&P 500 was up 23.67 points, or 0.85 percent, at 2,815.19 and the Nasdaq Composite was up 68.03 points, or 0.90 percent, at 7,659.06.

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