U.S. stocks open mostly higher on key inflation data

U.S. stock indexes opened mostly higher on Thursday after inflation data closely watched by the Federal Reserve shows price pressures are easing. The personal consumption expenditures index showed the rate of inflation rose 0.3% in October, while the core gauge that strips out volatile food and energy costs, rose 0.

2% last month, below the consensus estimate of 0.3% collected from economists by Dow Jones. The S&P 500 rose 0.3%, while the Dow Jones Industrial Average shed 0.2% and the Nasdaq Composite gained 0.4%. The 10-year Treasury yield decreased after the report. Elsewhere, reports suggested China is set to announce an easing of its COVID-19 quarantine protocols in the coming days and a reduction in mass testing.

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