Stocks Opened slightly Higher after U.S.-North Korea Summit

U.S. stocks opened slightly higher on Tuesday, as the Federal Reserve kicked off its two-day policy meeting, after a U.S.-North Korea summit aimed at the denuclearization of the Korean peninsula. The Dow Jones Industrial Average lately fell 24.80 points, or 0.10%, to 25,297.51. The S&P 500 added 0.67 point, or 0.02%, to 2,782.67. The Nasdaq Composite climbed 11.13 points, or 0.15%, to 7,671.05.

Crude-oil futures traded slightly lower early Tuesday as a report on monthly oil output from the Organization of the Petroleum Exporting Countries indicated higher production from the cartel led by swing producer Saudi Arabia. July West Texas Intermediate crude fell 12 cents, or 0.2%, to $65.96 a barrel. August Brent crude lost 28 cents, or 0.4%, to trade at $76.18 a barrel.

U.S. inflation accelerated in May to the fastest pace in more than six years, reinforcing the Federal Reserve’s outlook for gradual interest-rate hikes while eroding wage gains that remain relatively tepid despite an 18-year low in unemployment. The consumer price index rose 0.2 percent from the previous month and 2.8 percent from a year earlier, matching estimates, a Labor Department report showed Tuesday.

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