Stocks Opened Mixed, Dow Weighed by Boeing

U.S. stocks were mixed at open on Tuesday, with the S&P 500 and Nasdaq higher as a reading of domestic inflation reaffirmed muted inflation risks. The Dow remained under pressure as a fatal plane crash of a Boeing Co. aircraft over the weekend. The Dow Jones Industrial Average lately fell 34.63 points, or 0.14%, to 25,616.25. The S&P 500 added 8.34 points, or 0.30%, to 2,791.64. The Nasdaq Composite rose 16.80 points, or 0.22%, to 7,574.86.

Crude-oil prices Tuesday morning were trading near two-week highs, bolstered by tightening Venezuelan supplies and signs that OPEC would continue cutting output into the second half of the year. April West Texas Intermediate crude rose 46 cents, or 0.8%, to $57.24 a barrel. May Brent crude gained 54 cents, or 0.8%, to $67.11 a barrel.

Bureau of Labor Statistic’s Consumer Price Index for February rose 0.2% month-on-month, as expected, and 1.5% year-on-year. CPI excluding the volatile categories of food and energy – considered by many to be a strong indicator of underlying inflation – rose 2.1% year-over-year, slower than the 2.2% pace anticipated. Declines in prices for automobiles and prescription drugs helped drive the decrease in core CPI.

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