Wall Street Opens Higher After CPI Data

A Wall Street sign is pictured outside the New York Stock Exchange amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, N.Y., on April 16, 2021. (Carlo Allegri/Reuters)

U.S. stock indexes bounced on Tuesday after data showed consumer prices rose largely in line with estimates, taking pressure off megacap growth and technology stocks that were hammered by expectations of aggressive U.S. interest rate hikes.

The Dow Jones Industrial Average rose 104.4 points, or 0.30 percent, at the open to 34412.51.

The S&P 500 rose 25.1 points, or 0.57 percent, at the open to 4437.59​, while the Nasdaq Composite rose 172.7 points, or 1.29 percent, to 13584.687 at the opening bell.