U.S. Stocks Open Higher as Treasury Bond Yield Eases Back By Investing.com

© Reuters.

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.

At 9:48 AM ET, the was up 293 points, or 0.9%, while the rose 1% and the rose 1.5%.

The 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 number, which strips out energy and food, is actually running slightly lower than anticipated at 6.5% versus 6.6% expected.

The Treasury, a benchmark interest rate, shed 0.07 to 2.72%. Yields move inverse to price.

Tech stocks rebounded from Monday’s drop. Tesla, Inc. (NASDAQ:) rose more than 2%, and Microsoft Corporation (NASDAQ:) and Amazon.com, Inc. (NASDAQ:) were each 1% higher.

Crude oil staged a strong comeback, rising more than 5%. The U.S. benchmark rose to $99 a barrel, while the international standard rose to $103 a barrel.

rose nearly 1% to $1967/oz.

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