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Traders work on the floor of the New York Stock Exchange, April 26, 2023.Michael M. Santiago | Getty ImagesThe Dow Jones Industrial average gained for the first day in three after August retail sales came in better than expected and another inflation reading was not as bad as feared.The Dow Jones Industrial Average added 145 points or 0.4%. S&P 500 gained 0.5%, while Nasdaq Composite moved about 0.5% higher.The August reading of the producer price index came in hotter than expected. It rose 0.7%, more than the 0.4% increase anticipated by economists polled by Dow Jones. However, excluding food and energy, core PPI increased 0.2%, in line with the estimate.August retail sales came in better than expected, jumping 0.6% against a 0.1% increase expected by economists. Excluding autos, retail sales rose 0.6% last month, more than the forecasted 0.4% increase. The European Central Bank hiked rates by an expected quarter percentage point Thursday but noted inflation is easing and could be near the end of its rate-hiking campaign. That follows the August reading of the consumer price index. The core CPI, which excludes food and ene …
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