Wall Street Addict

Wall Street rose for the second straight session Thursday after data showed that wholesale inflation, excluding energy and food costs, is rising at a controlled pace.
The market was unfazed by the Labor Department's report that its headline producer price index rose 0.9 percent in May due to surging gasoline prices -- above April's reading and higher than economists predicted. Investors instead were pleased the core PPI, which strips out often-volatile food and energy costs, posted a small 0.2 percent rise, as expected, after a flat reading in April.
If core inflation is under control, the Federal Reserve is less likely to lift interest rates, a worry that began dogging the market last week, when the yield on the benchmark 10-year Treasury note passed 5 percent for the first time since last summer.