U.S. stocks opened higher today, on track to end a difficult week on a positive note.
This came despite data showing that U.S. consumer prices rose at an accelerated pace in August.
The Dow Jones Industrial Average rose by about 140.4 points, or 0.27%, to 52,204.46 points.
Similarly, the S&P 500 opened higher by about 45.1 points, or 0.59%, at 7,636.75 points.
In contrast, data from the U.S. Bureau of Labor Statistics showed that the Consumer Price Index rose 0.4% in August on a month-over-month basis.
This compares with a 0.1% increase in July. On a year-over-year basis, the inflation rate stood at 3.4%.
Core inflation, which excludes food and energy prices, rose 0.3% month-over-month.
Meanwhile, it slowed to 2.4% year-over-year, down from 2.5% the previous month.
Following the release of the data, markets raised their estimates of the likelihood that the Federal Reserve would raise interest rates by 25 basis points at its next meeting to 90%, up from about 70% previously.
These developments followed strong data on producer prices and employment.
This reinforced expectations of monetary policy tightening, although U.S. stocks held onto their gains at the open.
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