Stocks open higher as CPI report boosts hope of ebbing inflationary pressures


U.S. stocks opened higher Tuesday, finding support after a hotter-than-expected rise in the March consumer price index was read as a sign inflation pressures may be peaking, analysts said. The Dow Jones Industrial Average DJIA, +0.50% rose 114 points, or 0.3%, to 34,422, while the S&P 500 SPX, +0.73% rose 27 points, or 0.6%, to 4,439. The Nasdaq Composite COMP, +1.14% gained 142 points, or 1.1%, to13,554. The data showed the rate of inflation in the past year moved up to 8.5% in March from 7.9%. The last time inflation breached 8% was in January 1982. Analysts said a potential sign inflation might be peaking came from the smallest monthly increase in six months in the so-called core rate of inflation that strips out food and energy, which rose just 0.3% last month

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