Wall Street stocks rose as softer inflation figures and a strong start to second-quarter earnings boosted investor sentiment. All three major indexes finished modestly higher, led by gains in retail and travel shares despite semiconductor weakness. PayPal shares jumped after reports that Stripe and Advent International offered to buy the company at a 28 percent premium. Bank earnings from BlackRock and Morgan Stanley also exceeded expectations, supporting the positive tone. Analysts forecast 23.7 percent year-on-year earnings growth for S&P 500 companies. The S&P 500 rose 0.38 percent to 7,572.59, the Nasdaq gained 0.62 percent to 26,268.88, and the Dow added 0.30 percent to 52,663.80. Cooler-than-expected producer prices and testimony from Federal Reserve Chair nominee Kevin Warsh eased concerns about immediate rate hikes. Markets now see only a 10 percent chance of a quarter-point increase this month. However, ongoing Middle East tensions could renew inflationary pressures.
