Around the World's Markets: New York

EARLY GAINS on Wall Street wiped out the fall suffered on Tuesday after the unscheduled release of worryingly high factory gate prices data. By midday, the Dow Jones was up 85 at 10,914.

"The stock market at the moment will move on how interest rates move," said one economist. "The economy remains very strong, and, from the Fed's point of view, there is a significant inflation risk for next year."