(Reuters) - Wall Street jumped on Thursday, and Apple inched closer to a $1 trillion stock market value, as tepid inflation data eased worries of faster U.S. interest rate hikes this year. Fueled by a $100 billion buyback plan unveiled last week, Apple rose 1.43 percent to a record high close of $190.04, lifting the S&P 500 more than any other stock. The iPhone maker is about 7 percent away from becoming the first company ever to have a market capitalization of $1 trillion. The U.S. Labor Department's consumer price index increased 0.2 percent in April, less than economists' expectations, as rising costs for gasoline and rental accommodation were tempered by a moderation in healthcare prices. Core CPI, which excludes food and energy components, edged up 0.1 percent in April, slower than the previous two months, and did little to alter traders' expectations of a June rate hike.

Source: New York Times May 10, 2018 13:01 UTC