US stocks open higher as data show no signs of overheating – MarketWatch

This post was originally published on this site

U.S. equity markets opened higher on Wednesday as retail sales and producer prices data showed no significant pick-up in inflation. Monthly retail sales fell for a third month in a row, while producer prices last month rose at a slower pace than in January. The Dow Jones Industrial Average DJIA, -1.16% gained 120 points, or 0.5%, to 25,125. The S&P 500 index SPX, -0.59% rose 9 points, or 0.4% to 2,774, while the Nasdaq Composite COMP, -0.45% gained 28 points, or 0.4% to 7,539. Among the best performers on the S&P 500, Ford Motor F, +2.78% rallied after analysts at Morgan Stanley upgraded the stock to overweight from underweight. Signet Jewelers Ltd SIG, -16.74% was the worst performer, dropping sharply after the company unveiled a restructuring plan to be carried out over the next three years.