NEW YORK: Wall Street stocks climbed early Tuesday following data showing lower than expected inflation as US Treasury bond yields pulled back.
The producer price index rose 0.2 percent last month, a reassuring figure to investors concerned that persistent inflation through 2025 would keep US interest rates at an elevated level.
The reading comes ahead of Wednesday’s consumer price index report.
About 15 minutes into trading, the Dow Jones Industrial Average was up 0.5 percent at 42,489.77.
Wall St subdued as investors assess data
The broad-based S&P 500 advanced 0.6 percent to 5,871.59, while the tech-rich Nasdaq Composite Index jumped 1.0 percent to 19,271.70.
After a strong run following the US presidential election, stocks have had a sluggish open to 2025 amid concerns about lofty valuations and the risk inflation will stay high.
Corporate earnings season gets underway in force this week, with reports from JPMorgan Chase, Goldman Sachs and other large financial companies.
Source: Brecorder
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