By Liz Moyer
Investing.com – U.S. stocks opened higher on Tuesday, trading places with falling bond yields after new data showed inflation running hotter than expected.
The Consumer Price Index rose 8.5% in March from a year ago as Russia’s war on Ukraine bumped up the price of oil and other commodities. Supply chain issues remain, especially with new lockdowns in manufacturing regions of China forcing new delays.
While CPI is running slightly higher than the expected 8.4%, the core CPI number, which strips out energy and food, is actually running slightly lower than anticipated at 6.5% versus 6.6% expected.
The United States 10-Year Treasury, a benchmark interest rate, shed 0.07 to 2.72%. Yields move inverse to price.
Gold Futures rose nearly 1% to $1967/oz.
U.S. Stocks Open Higher as Treasury Bond Yield Eases Back