Stocks opened higher Wednesday, with the focus firmly on consumer inflation data that could sway the Federal Reserve’s next policy decision.
The Dow Jones Industrial Average (^DJI) was up around 0.2%, while the S&P 500 (^GSPC) jumped 0.3%. The Nasdaq Composite (^IXIC) opened 0.2% higher after retreating more than 1% the previous session.
August’s Consumer Price Index report showed a bigger-than-expected jump in inflation last month, with headline prices rising 0.6% month to month and 3.7% on an annual basis. The uptick was driven by the recent rally in energy prices.
The data represents last inflation print the Fed will get before its meeting next week, and one of the most important data points policymakers will consider in deciding whether to keep interest rates higher for longer.
Prices for WTI crude (CL=F) and Brent (BZ=F) oil continued to rise on Wednesday, trading near 10-month highs. That put pressure on stocks as well as potentially hampering the Fed’s efforts to cool…
2023-09-13 08:32:38
Post from finance.yahoo.com