U.S. stocks opened higher on Tuesday as investors digested the newly released consumer price data.
The Consumer Price Index (CPI) for all urban consumers increased 0.2 percent in February on a seasonally adjusted basis, in line with market consensus, the U.S. Labor Department reported Tuesday.
Over the last 12 months, the all items index rose 2.2 percent before seasonal adjustment.
The index for all items less food and energy increased 0.2 percent in February, and it rose 1.8 percent over the past 12 months, the same figure as the prior two months.
Analysts said the CPI data, combined with last week's tepid wage growth, eased investors' nervousness over a higher inflation, which could force the Federal Reserve to quicken its step down the path to normalization of its monetary policy.
Investors also kept a close eye on the replacement of the country's secretary of state.
U.S. President Donald Trump announced Tuesday on his Twitter that Rex Tillerson will no longer serve as secretary of state, and he will be replaced by CIA director Mike Pompeo.
Shortly after the opening bell, the Dow Jones Industrial Average rose 121.66 points, or 0.48 percent, to 25,300.27. The S&P 500 increased 12.68 points, or 0.46 percent, to 2,795.70. The Nasdaq Composite Index was up 36.42 points, or 0.48 percent, to 7,624.74.
The Consumer Price Index (CPI) for all urban consumers increased 0.2 percent in February on a seasonally adjusted basis, in line with market consensus, the U.S. Labor Department reported Tuesday.
Over the last 12 months, the all items index rose 2.2 percent before seasonal adjustment.
The index for all items less food and energy increased 0.2 percent in February, and it rose 1.8 percent over the past 12 months, the same figure as the prior two months.
Analysts said the CPI data, combined with last week's tepid wage growth, eased investors' nervousness over a higher inflation, which could force the Federal Reserve to quicken its step down the path to normalization of its monetary policy.
Investors also kept a close eye on the replacement of the country's secretary of state.
U.S. President Donald Trump announced Tuesday on his Twitter that Rex Tillerson will no longer serve as secretary of state, and he will be replaced by CIA director Mike Pompeo.
Shortly after the opening bell, the Dow Jones Industrial Average rose 121.66 points, or 0.48 percent, to 25,300.27. The S&P 500 increased 12.68 points, or 0.46 percent, to 2,795.70. The Nasdaq Composite Index was up 36.42 points, or 0.48 percent, to 7,624.74.
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