U.S. stock indexes rose on Tuesday after lower-than-expected producer inflation data.
The Producer Price Index (PPI) rose 3.3% on an annual basis in December 2024, according to a report from the Labor Department. On a monthly basis, it rose 0.2%.
As of 9:50 a.m. ET, the Dow Jones Industrial Average was up 131.20 points, or 0.31%, at 42,428.32, the S&P 500 was up 21.84 points, or 0.37%, at 5,858.06, and the Nasdaq Composite Index was up 122.50 points, or 42,428.32. 0.64 points). cents, 19,209.39.
When the opening bell rang, the Dow Jones Industrial Average rose 69.3 points, or 0.16%, to $42,366.42. The S&P 500 rose 23.1 points, or 0.39%, to 5,859.27, and the Nasdaq Composite Index rose 119.6 points, or 0.63%, to 19,207.748.
All eyes will be on the Consumer Price Index (CPI) report expected on Wednesday.
Among large-cap stocks, Tesla rose about 4%, Nvidia rose 1.2% and Amazon.com rose 1.4%.
Applied Digital shares soared 16% after reports that Macquarie would take a 15% stake in the company and also invest up to $5 billion in the company’s AI data centres.
Shares of Eli Lilly fell 8.2% after the company said it expected fourth-quarter sales of its popular weight-loss drug and related diabetes drug to be lower than expected.
In the bond market, the 10-year U.S. Treasury yield rose to 4.80% from 4.78% late Monday. The yield on two-year U.S. Treasuries fell slightly to 4.38% from 4.39%.
Bullion
Gold prices were stable on Tuesday, with the spot gold price little changed at $2,663.29 per ounce as of 9:40 a.m. ET (14:40 p.m. Japan time).
US gold futures fell 0.1% to $2,676.40. Spot silver rose 0.4% to $29.71 an ounce.
crude oil
Crude oil prices fell on Tuesday from a four-month high hit the previous day.
At 1421 GMT, Brent futures were down 58 cents, or 0.72%, at $80.43 a barrel, while U.S. West Texas Intermediate (WTI) crude oil was down 62 cents, or 0.79%, at $80.43 a barrel. It became $78.20.
