Stocks Rise After Soft Inflation Report
Stocks rose on Tuesday after the producer price index, the first of two major inflation reports this week, came in cooler than expected.
The Dow Jones Industrial Average rose 174 points, or 0.4%. The S&P 500 gained 0.6%, and the tech-heavy Nasdaq Composite gained 0.9%.
Nvidia contributed to the early gains, rising more than 1%. Tesla and Palantir also jumped about 3% each. The uptick came after a series of losing sessions for big tech names.
The producer price index, which measures wholesale inflation, rose just 0.2% in December, the Bureau of Labor Statistics reported. Economists polled by Dow Jones had forecast a 0.4% increase. The core PPI, which excludes food and energy, was flat.
Source: CNBC