U.S. stocks open higher after wholesale inflation report

U.S. stocks opened modestly higher on Wednesday, as long-term Treasury yields retreated and investors weighed fresh data showing that wholesale inflation rose last month more than expected. The Dow Jones Industrial Average DJIA, +0.25% was up 0.3% soon after the opening bell, while the S&P 500 SPX, +0.34% gained 0.3% and the Nasdaq Composite COMP, +0.70% advanced 0.5%, according to FactSet data, at last check.

Wholesale inflation, as measured by the producer-price index, increased 0.5% in September, according to a report Wednesday from the U.S. Bureau of Labor Statistics. That’s a bigger rise than the 0.3% increase forecast by economists polled by the Wall Street Journal, but down from a 0.7% advance in August. Meanwhile, the yield on the 10-year Treasury note was trading about six basis points lower at around 4.60%, FactSet data showed, at last check.

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