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Wall Street opens higher as data points to cooling inflation


A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., November 11, 2022. REUTERS/Andrew Kelly

Wall Street’s main indexes opened higher on Tuesday after a lower-than-expected rise in U.S. producer prices boosted expectations that the Federal Reserve would shift to smaller interest rate hikes.

The Dow Jones Industrial Average (.DJI) rose 219.2 points, or 0.65%, at the open to 33755.94. The S&P 500 (.SPX) rose 49.2 points, or 1.24%, to 4006.41​, while the Nasdaq Composite (.IXIC) rose 278.6 points, or 2.49%, to 11474.82 at the opening bell.