NEW YORK: Wall Street stocks opened higher Monday, shrugging off news about fresh tariffs as markets await US inflation and retail sales data.
US President Donald Trump announced on Sunday plans to impose 25-percent tariffs on steel and alumium imports, while also vowing reciprocal tariffs.
Tariffs normally weigh on stocks, but Briefing.com analyst Patrick O’Hare attributed the bounce to a “buy-the-dip” investor reflex following Friday’s losses.
About 10 minutes into trading, the Dow Jones Industrial Average was up 0.1 percent at 44,364.15.
Wall Street Week Ahead: Inflation data to test market as tariff talk swirls
The broad-based S&P 500 gained 0.4 percent to 6,047.30, while the tech-rich Nasdaq Composite Index gained 0.8 percent to 19,676.44.
Friday’s fall came after US employment data showed an uptick in wage growth, adding to concerns about inflation.
Besides the tariff news from Washington, this week’s calendar includes January US consumer price index and retail sales data.
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