Most stocks are rising as Warsh says price risks are fading

Signs of economic strength and easing inflationary pressures boosted most U.S. stock markets, and Federal Reserve Chairman Kevin Warsh said that inflation risks have diminished.

The sectors of Wall Street most sensitive to the economy posted better results after data showed that manufacturing activity expanded for the sixth consecutive month, as the rise in input costs driven by the war began to moderate.

The Institute for Supply Management's manufacturing production index remained near its highest level in four years in June, while prices paid for raw materials rose at a slower pace.