U.S. Stocks Open Slightly Higher Amidst CPI Inflation Report

On Thursday, U.S. stocks made a slightly higher opening as investors digested fresh inflation data, which revealed that headline consumer prices increased last month slightly more than anticipated.

The Dow Jones Industrial Average (DJIA) gained 0.1% shortly after the opening bell, with the S&P 500 (SPX) and the Nasdaq Composite (COMP) also seeing a 0.1% increase, according to FactSet data at the latest update.

According to a report from the Bureau of Labor Statistics, the consumer-price index indicated a 0.4% rise in September, surpassing the 0.3% increase predicted by economists surveyed by the Wall Street Journal. Core CPI, which excludes food and energy prices, saw a 0.3% increase last month, in line with economists’ expectations.

Annual headline inflation maintained its steady pace at 3.7% for the 12 months ending in September, while the core CPI rate decreased to 4.1% for the year through last month, down from 4.3% in August.

In the bond market, Treasury yields were on the rise. The yield on the 10-year Treasury note increased by three basis points to 4.60%, while two-year yields climbed approximately five basis points to approximately 5.05%, according to FactSet data at the latest update.

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