US stocks rose slightly on Thursday, led by technology shares, although investors remained cautious before a Federal Reserve statement which could give clues on the outlook for interest rates. Communications equipment and semiconductor stocks got a boost after brokerage upgrades of Cisco Systems Inc and chip maker Intel Corp.
Gains in General Motors Corp helped the Dow industrials reverse earlier losses on data showing inflation was higher than previously thought in the first three months of 2007.
"The key will be the Fed's language today, and the question is if inflation is in their comfort zone," said Jeffrey M. Mortimer, chief investment officer for equities at Charles Schwab Investment Management in San Francisco.
The Dow Jones industrial average was up 14.95 points, or 0.11 percent, at 13,442.68. The Standard & Poor's 500 Index was up 3.64 points, or 0.24 percent, at 1,509.98. The Nasdaq Composite Index was up 9.34 points, or 0.36 percent, at 2,614.69.
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