NEW YORK: Wall Street stocks rose early Thursday, shrugging off disappointing inflation data and the latest White House tariff actions.
The producer price index rose by 0.4 percent in January, above the 0.2 percent expected by analysts, adding to concerns about worsening pricing pressure after Wednesday’s consumer price data also exceeded estimates.
US President Donald Trump said that he would announce “reciprocal tariffs” on trading partners later Thursday, opening new fronts in a trade war economists warn could fuel inflation at home.
About 15 minutes into trading, the Dow Jones Industrial Average was up 0.1 percent to 44,416.83.
Wall St falls as inflation data hints at slower rate cuts
The broad-based S&P 500 advanced 0.2 percent to 6,061.18, while the tech-rich Nasdaq Composite Index advanced 0.3 percent to 19,715.12.
Analysts have pointed to an underlying optimism about US economic conditions that is prompting investors to step in and purchase stocks whenever there is near-term weakness.
The Department of Labor reported a dip in weekly jobless claims, suggesting continued resilience in the employment market.
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