Stocks Opened Flat after Economic Data

U.S. stocks opened little-changed on Wednesday, as investors digested a batch of stronger-than-expected economic data and earnings. The Dow Jones Industrial Average lately gained 35.49 points, or 0.17%, to 20,539.90. The S&P 500 was up 0.20 point, or 0.01%, to 2,337.78. The Nasdaq Composite added 6.58 points, or 0.11%, to 5,789.15.

U.S. retail sales rose more than expected in January as households bought electronics and a range of other goods. The Commerce Department said on Wednesday retail sales increased 0.4 percent last month. December’s retail sales were revised up to show a 1.0 percent rise instead of the previously reported 0.6 percent advance.

The Labor Department said its Consumer Price Index jumped 0.6 percent last month, the largest increase since February 2013, after gaining 0.3 percent in December. The surge in the CPI reflected increases in gasoline, apparel and motor vehicle prices among others.

U.S. factory output increased for the fourth time in five months amid gains in machinery and chemicals, extending a gradual recovery in manufacturing. Production at factories increased 0.2 percent in January from the previous month, a Federal Reserve report showed Wednesday. Total industrial output fell 0.3 percent as warm weather reduced demand for heating, with utility production falling the most in 11 years.