- The US stock market opened higher with gains in major indices on Friday
- The Dow Jones Industrial Average rose by 4% after the PPI data release
- S&P 500 increased by 0.3% while Nasdaq Composite gained 0.1%
The US Stock market opened higher with S&P 500, Dow Jones and Nasdaq indices gaining back some of its losses after the release of Producer Price Index data was softer in contrast to expectations on Friday.
The Dow Jones Industrial Average was up 4%. The S&P 500 gained 0.3%, and the Nasdaq Composite increased 0.1%.
While monthly wholesale inflation rose a slightly cooler-than-expected 0.3% in October, the annual PPI rate accelerated to 6.5%, marking its steepest 12-month increase since November 2022.
Nvidia was trading at a downturn of 1.84% to $163.13 after it was in the green during pre-market hours, seeing a rebound with the shares trading at a 1.78% uptick.
(This is a developig story.)
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