Stocks barely moved today as investors wondered whether a welter of weak economic data would end the Federal Reserve’s year-long streak of interest rate rises.

THE Federal Reserve raised US short-term interest rates by another quarter point yesterday, a move that was no surprise to Wall Street.

US stocks regained ground today as the market’s cautious optimism was restored by government data showing only modest inflation, better-than-expected corporate earnings, announcements of two merger deals and the report of a third.

US economic growth is picking up after hitting a soft patch earlier this year, and oil prices are so far not pushing inflation higher, Federal Reserve Chairman Alan Greenspan said.

The bears returned to Wall Street today, sending stocks lower as oil prices rose, a downbeat outlook from Cisco Systems weighed on technology shares and investors started having second thoughts about this week’s interest rate hike.

Wall Street trudged through a listless session today, closing narrowly mixed as oil prices edged closer to 45 dollars per barrel and investors hoped for assurance from the Federal Reserve that the economy was still on track.

THE US Federal Reserve is expected to increase interest rates for the first time in more than four years when the Open Market Committee meets next Wednesday.

A surge in technology shares lifted stocks moderately higher on Wall Street today, as palmOne Inc's strong earnings report injected a bit of life into what has been a stagnant market.

THE US economy is poised to accelerate and the Federal Reserve will leave interest rates low for as long as necessary to ensure that happens, Fed Chairman Alan Greenspan said yesterday.