Stocks Opened Higher after CPI Data

U.S. stocks opened higher on Tuesday, as consumer prices data were in line with forecasts. The Dow Jones
Industrial Average lately added 56.37 points, or 0.33%, to 17,108.10. The S&P 500 gained 8.39 points, or 0.43%, to 1,982.02. The Nasdaq Composite was up 27.03 points, or 0.61%, to 4,451.73.

U.S. consumer prices rose in June as the cost of gasoline surged, but the underlying trend remained consistent with a gradual build-up of inflationary pressures. The Labor Department said on Tuesday its Consumer Price Index increased 0.3 percent last month, with gasoline accounting for two-thirds of the gain, after May’s 0.4 percent rise.

McDonald’s Corp (MCD.N) reported a lower-than-expected quarterly profit as comparable sales in its struggling U.S. business fell for the third straight quarter and sales in Europe declined for the first time in four quarters. Total sales rose 1 percent to $7.18 billion, missing the average analyst estimate of $7.29 billion, according to Thomson Reuters I/B/E/S.

Coca-Cola (KO) reported second-quarter sales that fell short of forecasts, while profit topped estimates.
Earnings for the quarter ending June 27 declined to $2.6 billion, or 58 cents a share, from $2.68 billion, or 59 cents a share. Sales declined 1% from a year ago to $12.57.

Yahoo Inc. (YHOO) said it is acquiring mobile app analytics provider Flurry in a bid to boost advertising
revenue from smartphones. The Internet portal has agreed to pay more than $200 million for Flurry.