U.S. stocks open higher after core CPI inflation saw smallest monthly rise since 2021

U.S. stocks opened higher Wednesday, with gains led by the technology-heavy Nasdaq Composite, after a fresh reading on inflation showed core prices eased in June. The Dow Jones Industrial Average
DJIA,
+0.28%
was up 0.7% soon after the opening bell, while the S&P 500
SPX,
+0.75%
gained 0.9% and the Nasdaq Composite
COMP,
+1.17%
climbed 1.2%, according to FactSet data, at last check. The Bureau of Labor Statistics said Wednesday that inflation, as measured by the consumer-price index, rose 0.2% in June to climb 3% over the past year. Core CPI, which excludes food and energy prices, increased 0.2% last month for a year-over-year rate of 4.8%. Both headline and core CPI rose slightly less in June than forecast by economists polled by The Wall Street Journal. Core inflation eased from a 0.4% jump in May, with its June rise marking the smallest monthly increase since August 2021, according to the Bureau of Labor Statistics report.