New York ? Wall Street posted big gains for the third straight day Wednesday as a benign reading of consumer inflation relieved investors. The Dow Jones industrial average jumped more than 130 points.

Investors also were encouraged by a decline of nearly $2 a barrel in oil prices, which alleviated another source of concern, and Dow component Hewlett-Packard Co. turned in a solid earnings report.

Despite the pronounced upturn, however, it was not clear that the market had completely shaken off lingering worries about inflation and rising interest rates that have dogged stocks during the past several weeks.

Todd Leone, head of listed trading SG Cowen & Co., said that while investor sentiment had been positive during the past few days — especially with falling oil prices and a favorable reading on consumer inflation — people remain cautious.

“It’s been a very tough market,” Leone said.