(Reuters) – Wall Street’s main indexes opened sharply higher on Tuesday after a smaller-than-expected rise in U.S. consumer prices raised hopes that the Federal Reserve could soften its aggressive rate hike stance.
The Dow Jones Industrial Average rose 555.64 points, or 1.65%, at the open to 34,546.65. The S&P 500 opened higher by 78.82 points, or 1.98%, at 4,069.38, while the Nasdaq Composite gained 399.10 points, or 3.58%, to 11,542.84 at the opening bell.
(Reporting by Ankika Biswas in Bengaluru; Editing by Anil D’Silva)