DJIA up 318.92 points (Il Sole 24 Ore Radiocor) - New York, 13 Aug - US shares were trading near session highs, recouping most of the losses endured in the August 5 selloff, after inflation data came in cooler than expected.

Producer prices rose just 0.1% in July from the previous month, below a consensus forecast for a 0.2% increase as cheaper services offset a rise in the price of goods. The index also showed annual wholesale inflation rising 2.2% compared to the previous month's 2.7% and a consensus of 2.3%.

Investors will now turn to consumer price data due out tomorrow and retail sales later in the week which on this occasion take on more importance given growing concerns over economic growth.

The Federal Reserve is hoping the US economy will slow enough to be able to tame high inflation while not slowing too rapidly economic growth and running the risk of triggering a possible recession.

On the stocks front, Starbucks shares surged 20.85% after the US coffeehouse chain said that Chipotle CEO Brian Niccol has been appointed chairman and chief executive officer.

Chiptotle shares were down 7.8%.

At 1927 GMT, the Dow Jones was gaining 318.92 points, or 0.81%, at 39,674.80 points.

The S&P 500 was 75.87 points, or 1.42%, higher at 5,420.26 points.

The Nasdaq was up 373.82 points, or 2.23%, at 17,154.26 points.

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(RADIOCOR) 13-08-24 19:30:53 (0514) 5 NNNN