U.S. stock-market indexes reversed opening losses and traded higher Wednesday as investors tried to shake off inflation jitters after a reading of January consumer prices showed the strongest monthly rise in five months.
The S&P 500 was up by 12 points, or 0.5%, to 2,675 with eight of the 11 main sectors trading higher. Financials and consumer discretionary shares were leading the gains, up 0.9%.
The Dow Jones Industrial Average added 38 points, or 0.2%, to 24,675. The blue-chip average’s moves were powered by gains in Goldman Sachs Group Inc. and Boeing Co. But the benchmark’s moves were bumpy, swinging from an early 150-point loss to a gain of as much as 75 points.
The Nasdaq Composite meanwhile, advanced a firm 62 points, or 0.9%, to 7,078.