US Stocks Mostly Higher After Benign Inflation Data

2025-05-13 02:29:02

(MENAFN- The Peninsula) AFP

New York: Wall Street stocks mostly rose early Tuesday following benign inflation data after the prior session's rally over the deescalation of the US-China trade war.

The consumer price index eased to 2.3 percent in April from a year ago, a tick below the 2.4 percent figure recorded in March.

Analysts welcomed the data but said they still expect an uptick in inflation later in 2025 as tariffs trickle through the economy.

About 20 minutes into trading, the Dow Jones Industrial Average was down 0.4 percent at 42,228.70.

The broad-based S&P 500 climbed 0.2 percent to 5,858.19, while the tech-rich Nasdaq Composite Index gained 0.6 percent to 18,820.13.

Major US indices rose about three percent or more on Monday after the United States and China agreed to lower tariffs on each other for a 90-day period to allow for further negotiations on a trade accord.

Among individual companies, UnitedHealth Group sank 12.3 percent after announcing that Andrew Witty was stepping down as CEO for personal reasons, to be replaced by Chair Stephen Hemsley. The company also suspended its 2025 outlook, citing higher than expected costs.

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