Shares on the major stock market indexes in the United States traded higher as the session started on Wednesday, with investors digesting the latest Consumer Price Index (CPI) report. US Bureau of Labor Statistics unveiled that the CPI rose by 0.4% on a monthly basis, and by 1.7% compared to the same period the year prior, helping the traders shrug off concerns of the higher inflation rate’s effects on the markets and the economy.
The House of Representatives is also expected to vote on the Senate-approved COVID relief bill later during the day.
The Dow Jones Industrial Average gained 0.57%, or 180 points, as the session started with Intel soaring 2.1%. The Nasdaq 100 advanced by 1.26% at the same time with PayPal Holdings up by 3.11% two minutes into the session. The S&P 500 moved up by 0.69% at the opening bell, as Enphase Energy surged 7.7% a minute later. The euro strengthened 0.13% versus the dollar, selling for 1.19170 at 9:33 am ET.
