Stocks Opened Higher after Inflation Data

U.S. stocks opened higher on Tuesday following a report on consumer inflation that was in light with expectations. The Dow Jones Industrial Average lately rose 179.45 points, or 0.71%, to 25,358.06. The S&P 500 climbed 18.08 points, or 0.65%, to 2,801.10. The Nasdaq Composite gained 47.46 points, or 0.63%, to 7,635.78.

Oil fell on Tuesday as U.S. data that showed crude output is growing faster than expected continued to put pressure on the market. Brent crude futures were down 32 cents at $64.63 a barrel by 1246 GMT, while U.S. West Texas Intermediate crude futures were up 17 cents at $61.53 a barrel.

U.S. consumer price growth slowed in February amid a decline in gasoline prices and a moderation in the cost of rental accommodation, the latest indication that an anticipated pickup in inflation probably will be only gradual. The Labor Department said on Tuesday its Consumer Price Index rose 0.2 percent last month after jumping 0.5 percent in January.