- The major Wall Street indices opened modestly higher on Tuesday.
- Annual core inflation in August fell to 4%.
- Energy stocks are gaining ground with crude oil trading in positive territory.
After the rocking session on Monday, the main US stock indices They opened higher on Tuesday as investors are sizing up inflation data for August. At time of writing, the S&P 500 Index was up 0.22% on the day to 4,478, the Dow Jones Industrial Average was up 0.2% to 34,940 and the Nasdaq Composite was up 0.27% to 15,146.
The US Bureau of Labor Statistics announced Tuesday that the Basic Consumer Price Index (CPI) fell to 4% annually in August from 4.3% in July. This reading was lower than the market expectation of 4% and revived expectations of a delay in reducing asset purchases by the Federal Reserve.
Among the top 11 sectors in the S&P 500, the Energy Index is up 0.5% after the opening bell, supported by a 0.6% rise in US crude prices. On the other hand, the Industrial Index is losing 0.2% as the biggest drop in early trading.
S&P 500 chart (daily)