Dow opens 300 pts higher after PPI report

Tuesday, 15. November 2022 15:30

Wall Street opened with strong gains on Tuesday after a data report showed that producer prices grew at a weaker-than-projected pace in October. Signals that overall inflation could be facing deceleration are seemingly fueling optimism on stock markets in the United States. In addition to the latest PPI figure, investors monitored quarterly updates by retail corporations The Home Depot and Walmart.

The Dow Jones Industrial Average index gained 0.90%, or 303 points, at the open with Walmart, its best performer, rising 5.57% at 9:31 am ET. The Nasdaq 100 advanced 2.61% at 9:30 am ET as JD.com surged 9.74% at 9:31 am ET. The S&P 500 was up 1.54% in the first minute of trading as SVB Financial Group led the gains, soaring 8.38% at 9:46 am ET.

The euro increased by 0.87% against the dollar to trade at 1.04166 at 9:29 am ET.

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Author:
Baha Breaking News (BBN) / MS