U.S. stocks open higher amid more signs of slowing inflation

U.S. stocks opened moderately higher on Wednesday after a report on wholesale prices showed growth slowed by more than economists had expected last month — another sign that inflation has continued to recede since peaking over the summer. The S&P 500
SPX,
+0.49%
increased by 15 points, or 0.4%, to 4,005. The Dow Jones Industrial Average
DJIA,
+0.11%
increased by 60 points, or 0.2%, to 33,971. The Nasdaq Composite
COMP,
+0.96%
gained 82 points, or 0.7%, to 11,176. Data released before the open showed U.S. wholesale prices slid 0.5% in December, the biggest decline since April 2020.