Stocks Rise in Early Trading

Stocks rose moderately Wednesday as investors digested economic figures that painted a mixed picture about the economy.

The Labor Department report that labor costs rose a 2.6 percent annual pace in the fourth quarter provided some unwelcome news. The concern is that rising prices will make it harder for the inflation-weary Federal Reserve to justify cutting interest rates to boost the economy.

It was the fastest cost increase rate since the first quarter last year.

However, the report also found that productivity _ the amount than a worker produces for every hour on the job _ rose at an annual pace of 1.9 percent in the fourth quarter.

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