Wall Street opens higher as consumer price growth slows

Wall Street opens higher as consumer price growth slows
Wall Street opens higher as consumer price growth slows

US stocks opened higher Tuesday after growth slowed Consumer prices slashed fears that inflation The higher will prompt the Federal Reserve to cut stimulus early.

The Dow Jones Industrial Average rose 37.27 points, or 0.11%, to 34,906.90 points.

The Standard & Poor’s 500 index opened, up 10.60 points, or 0.24%, to 4479.33 points, and the Nasdaq Composite Index increased 62.87 points, or 0.42%, to 15,168.45 points.

Core consumer prices in the US increased at the slowest pace in 6 months in August, indicating that inflation is likely to have peaked, but may remain elevated for a while as supply constraints persist.

The US Labor Department said on Tuesday its consumer price index, which excludes volatile food and energy, rose 0.1% last month, the smallest increase since February and after rising 0.3% in July.

The so-called core CPI increased 4% year on year after advancing 4.3% in July.

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