Stocks Opened Lower after Inflation Report

U.S. stocks opened lower on Friday, after the report showed that inflation gauge matched expectations. The Dow Jones Industrial Average lately fell 184.33 points, or 0.77%, to 23,817.59. the S&P 500 slipped by 17.76 points, or 0.68%, to 2,578.88. The Nasdaq Composite declined 50.28 points, or 0.72, to 6,935.79.

Crude prices gained modestly early Friday, helped by a weaker dollar. West Texas Intermediate crude for February delivery picked up 32 cents, or 0.6%, at $52.91 a barrel. March Brent crude rose 15 cents, or 0.2%, at $61.83 a barrel.

U.S. consumer prices fell for the first time in nine months in December amid a plunge in gasoline prices, but underlying inflation pressures remained firm as rental housing and healthcare costs rose steadily.The Consumer Price Index dipped 0.1 percent last month, the first drop and weakest reading since March. The CPI was unchanged in November. In the 12 months through December, the CPI rose 1.9 percent after increasing 2.2 percent in November.

General Motors Co (GM) said on Friday it expects 2018 adjusted earnings per share to exceed its prior estimates and forecast 2019 earnings above Wall Street expectations.