by David French

(Reuters) – The New York Stock Exchange ended slightly higher on Thursday as early trading gains were erased by investor fears over the long-term outlook for the U.S. economy.

The Dow Jones Industrial Average gained 0.15%, or 52.79 points, to 35,176.15 points.

The broader S&P-500 gained 1.12 points, or 0.03%, to 4,468.83 points.

The Nasdaq Composite advanced for its part by 15.97 points (0.12%) to 13,737.99 points.

Official statistics released Thursday by the Labor Department showed consumer price inflation accelerated in July to 3.2% year on year.

The indices rose more than 1% in early trading as hopes that the Federal Reserve would refrain from raising rates at its next monetary policy meeting were revived.

At the end of the morning, however, the trend was reversed and the markets sawtoothed during the afternoon.

“Investors first looked at the number put forward and we saw a strong upside, but as the day went on the rally faded, which was probably the right reaction,” Gregg said. Abella, managing director of Investment Partners Asset Management.

Although inflation has slowed in the United States, core inflation has remained stable, which has prompted investors to reconsider their position, said Greg Abella.

The Labor Department also indicated that jobless claims had increased in the United States during the week of August 5, to 248,000 against 227,000 the previous week. A figure higher than analysts’ expectations.

Values, Walt Disney rose after publishing a quarterly profit above expectations.

The luxury group Capri also ended in the green after the announcement of its takeover by Tapestry in the context of an 8.5 billion dollar (7.7 billion euro) transaction.

(Reporting Bansari Mayur Kamdar and Johann M Cherian in Bangalore, David French in New York, with contributions from Shashwat Chauhan and Shubham Batra in Bangalore; Camille Raynaud)

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