Stock market today: US stocks jump as key inflation data comes in cool

US stocks opened higher on Tuesday as Wall Street digested cooler-than-expected inflation data and awaited an update on consumer prices. The S&P 500 rose about 0.7%, while the tech-heavy Nasdaq Composite jumped roughly 1%. The Dow Jones Industrial Average inched up around 0.4%. US producer prices, often a signal for where consumer prices are heading, rose just 0.1% month-over-month in July, lower than economist forecasts. Year-over-year, the Producer Price Index rose 2.

Wall Street is coming off an unusually boring day after more than a week of volatility. The S&P 500 and Nasdaq on Monday continued slowly building back toward the highs the indexes saw before a three-day sell-off wiped out a decent chunk of those year-to-date gains. Home Depot was the most significant name on the earnings docket Tuesday. The home-improvement retailer's shares fell after it cut its outlook on comparable same-store sales for the rest of the year.

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