Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
US open: Stocks higher following CPI reading
(Sharecast News) - Wall Street stocks were in the green early on Tuesday as investors thumbed over February's all-important consumer price index. As of 1525 GMT, the Dow Jones Industrial Average was up 0.59% at 38,998.55, while the S&P 500 advanced 1.01% to 5,169.41 and the Nasdaq Composite came out the gate 1.43% firmer at 16,247.71.
The Dow opened 228.89 points higher on Tuesday, extending gains recorded in the previous session as the index tried to shrug off losses registered in what was the blue-chip's worst week since October 2023.
Tuesday's early moves come as market participants digested news that the cost of living in the US was little changed last month but did not dip as much as anticipated amid the rising cost of energy. According to the Department of Labor, headline consumer prices increased at a 0.4% month-on-month pace in February, which served to push the year-on-year rate of increase from 3.1% in January to 3.2%. Core CPI also rose, up by 0.4%, so that the annual rate of increase only ticked lower by one-tenth of a percentage from January's pace to 3.8%.
February's producer price index was slated for release on Thursday, with the two key pieces of inflation data marking some of the last major macro data points scheduled for release ahead of the Federal Reserve's next monetary policy meeting on 19 March.
Elsewhere on the macro front, optimism among small businesses in the US unexpectedly declined last month, according to the National Federation of Independent Business, with inflation still a concern for many firms despite the recent slowdown in price pressures over recent months. The closely watched NFIB Small Business Optimism Index fell to 89.4 last month, from 89.9 in January, missing analysts' forecasts for a pick-up to 90.7 and marking the 26th straight month below the 50-year average reading of 98. According to the survey, 23% of small business owners said that inflation was their single most important business problem in operating their business in February, up from 20% the month before.
Still to come, the Federal Government's monthly budget statement will be published at 1800 GMT.
In the corporate space, Oracle shares surged in early trading after its fourth-quarter earnings topped Wall Street estimates as its cloud services and license support segment saw a 12% increase in revenues, while tech shares rallied at the bell, with Nvidia, Microsoft, and Meta all in the green early on Tuesday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
3M Co. (MMM) $97.79 3.97% International Business Machines Corporation (CDI) (IBM) $198.34 3.45% Microsoft Corp. (MSFT) $412.78 2.04% Visa Inc. (V) $283.46 1.03% Walmart Inc. (WMT) $61.28 1.02% Home Depot Inc. (HD) $374.86 0.90% Intel Corp. (INTC) $45.23 0.82% American Express Co. (AXP) $221.94 0.79% Caterpillar Inc. (CAT) $337.28 0.69% Amgen Inc. (AMGN) $277.23 0.68%
Dow Jones - Fallers
Boeing Co. (BA) $185.86 -3.44% Walgreens Boots Alliance, Inc. (WBA) $21.30 -1.11% Merck & Co. Inc. (MRK) $121.70 -0.87% Chevron Corp. (CVX) $151.47 -0.35% Verizon Communications Inc. (VZ) $40.00 -0.32% Apple Inc. (AAPL) $172.65 -0.06% Dowdupont Inc. (DWDP) $0.00 0.00% Nike Inc. (NKE) $101.19 0.11% Cisco Systems Inc. (CSCO) $50.30 0.16% Salesforce.Com Inc. (CRM) $306.57 0.18%
S&P 500 - Risers
Oracle Corp. (ORCL) $126.74 11.05% Gap Inc. (GPS) $22.93 5.98% Nvidia Corp. (NVDA) $905.62 5.58% 3M Co. (MMM) $97.79 3.97% Advance Auto Parts (AAP) $78.70 3.87% International Business Machines Corporation (CDI) (IBM) $198.34 3.45% Archer-Daniels-Midland Co. (ADM) $56.80 3.44% Meta Platforms Inc. (META) $498.82 3.15% Best Buy Co. Inc. (BBY) $78.79 3.13% Harley-Davidson Inc. (HOG) $40.16 2.92%
S&P 500 - Fallers
Southwest Airlines Co. (LUV) $28.81 -14.73% Leggett & Platt Inc. (LEG) $19.48 -5.80% American Airlines Group (AAL) $14.08 -3.89% Boeing Co. (BA) $185.86 -3.44% Newmont Corporation (NEM) $34.14 -3.12% United Airlines Holdings Inc (UAL) $41.76 -2.63% Norwegian Cruise Line Holdings Ltd (NCLH) $19.36 -2.20% Albemarle Corp. (ALB) $122.01 -2.20% Kohls Corp. (KSS) $26.59 -2.19% Centene Corp. (CNC) $76.41 -2.08%
Nasdaq 100 - Risers
Nvidia Corp. (NVDA) $905.62 5.58% JD.com, Inc. (JD) $27.40 5.08% Baidu Inc. (BIDU) $105.22 3.88% Meta Platforms Inc. (META) $498.82 3.15% Amazon.Com Inc. (AMZN) $176.64 2.72% Costco Wholesale Corp. (COST) $730.91 2.36% Microsoft Corp. (MSFT) $412.78 2.04% Adobe Systems Inc. (ADBE) $571.79 2.03% Trip.com Group Limited (TCOM) $44.17 2.02% Gen Digital Inc. (GEN) $22.29 1.87%
Nasdaq 100 - Fallers
American Airlines Group (AAL) $14.08 -3.89% Sirius XM Holdings Inc (SIRI) $4.05 -3.00% Incyte Corp. (INCY) $60.05 -1.22% Walgreens Boots Alliance, Inc. (WBA) $21.30 -1.11% eBay Inc. (EBAY) $51.04 -0.98% Biogen Inc (BIIB) $227.93 -0.93% Illumina Inc. (ILMN) $137.90 -0.83% Charter Communications Inc. (CHTR) $295.77 -0.83% Comcast Corp. (CMCSA) $43.22 -0.73% DENTSPLY Sirona Inc. (XRAY) $33.64 -0.68%
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.