Wall Street opens higher as CPI rises less than expected
Major stock markets in the United States opened higher on Wednesday after the Labor Statistics Bureau revealed in its latest report that the annual inflation in the United States rose 8.5% in July year over year. The figure is less than expected by market analysts and below the 9.1% of the previous month.
In other news, investors learned that the Market Composite Index increased 0.2% in the week ending August 5 compared to the previous week, while Fox posted its earnings report with revenue at $3.03 billion, rising 5% compared to the same quarter in 2021.
The Dow Jones gained 445 points, or 1.36%, at 9:30 am ET, with Walt Disney up 3.71%. The Nasdaq 100 added 2.47%, and Datadog improved by 6.71%. A minute later, the S&P 500 increased 1.71%, while Caesars rose by 7.98%.
The euro improved by 1.05% against the dollar at 9:29 am ET, selling for $1.03204.