(Removes "four" to correct reference to number of Fed speakers
in first paragraph)
* Markets will sift Fed speeches for clues on taper timing
* Slower China inflation eases worries of tighter policy
* McDonald's Nov. sales miss estimates on U.S. weakness
* Indexes: Dow up 0.2 pct; S&P up 0.3 pct; Nasdaq 0.4 pct
By Angela Moon
NEW YORK, Dec 9 Wall Street rose modestly on
Monday after Chinese inflation data eased worries about policy
tightening there, while investors were cautious before speeches
on the economy by top Federal Reserve officials.
Investors will look for clues on whether the strong November
jobs report will be enough for the Fed to slow its stimulus.
The policy-setting Federal Open Market Committee will hold its
final meeting of 2013 on Dec. 17-18.
Richmond Fed Bank President Jeffrey Lacker will speak at an
economic outlook conference in Charlotte, North Carolina at
12:30 p.m. (1730 GMT).
St. Louis Fed Bank President James Bullard will also speak
on the economy in St. Louis in the afternoon, and Dallas Fed
Bank President Richard Fisher will appear in Chicago in the
Equities received support from data that showed China's
annual consumer inflation unexpectedly slowed in November,
easing market fears of any imminent policy tightening as
authorities meet this week to outline their policy and reform
priorities for 2014.
The S&P 500 scored its best day in nearly a month on Friday
following a robust jobs report that gave traders confidence the
economic recovery was gaining strength. All 10 S&P sector
indexes ended solidly higher in the broad rally.
The S&P 500 is up nearly 27 percent for the year and is on
track for its biggest annual gain since 1998.
"The technical condition of the stock market is mixed.
Breadth indicators have exhibited little improvement in recent
weeks. We view this as part of a consolidation phase," said
Bruce Bittles, chief investment strategist at Robert W. Baird &
Co in a note to clients.
"Market breadth will take on significantly more importance
in January, which typically sets the tone for the rest of the
year. There has also been deterioration in foreign markets, most
notably Europe. It will be important that global markets gain
traction early in the New Year."
The Dow Jones industrial average rose 30.34 points or
0.19 percent, to 16,050.54, the S&P 500 gained 5.83
points or 0.32 percent, to 1,810.92 and the Nasdaq Composite
added 17.388 points or 0.43 percent, to 4,079.909.
In company news, Sysco Corp jumped more than 20
percent to $41.35 after the food distributor said it would buy
rival US Foods for about $3.5 billion and assume about $4.7
billion in debt to create a company with about $65 billion in
McDonald's Corp reported weaker-than-expected global
sales at established restaurants for November, hurt by a sharp
drop in comparable-store sales in the United States. The stock
was down 1 percent at $95.86.
(Reporting by Angela Moon; Editing by Kenneth Barry)