US open: Stocks higher following cooler-than-expected PPI reading
By Iain Gilbert
Date: Tuesday 14 Jan 2025
(Sharecast News) - Wall Street stocks were in the green early on Tuesday as major indices looked set to deliver another winning session.
As of 1525 GMT, the Dow Jones Industrial Average was up 0.36% at x42,449.69xx, while the S&P 500 advanced 0.43% to 5,861.05 and the Nasdaq Composite came out the gate 0.70% firmer at 19,221.50.
The Dow opened 152.57 points higher on Tuesday, extending gains recorded in the previous session.
Tuesday's primary focus was news that US wholesale inflation rose month-on-month in December, according to the Bureau of Labor Statistics, principally due to heightened energy prices throughout the month.
December's producer price index increased by 0.2% last month, down from the previous month's 0.4% increase. On an annualised basis, producer prices were up 3.3% year-on-year, down from 3.4% in November. When stripping out volatile foods, energy, and trade services, PPI increased by 0.1% in December and 3.3% year-on-year.
Elsewhere on the macro front, the National Federation of Independent Business' optimism index surged to 105.1 in December, the highest reading since October 2018, up from a print of 101.7 in November due to an improved economic outlook following the US federal election.
NFIB economist Bill Dunkelberg said: "Small business owners feel more certain and hopeful about the economic agenda of the new administration. Expectations for economic growth, lower inflation, and positive business conditions have increased in anticipation of pro-business policies and legislation in the new year".
In the corporate space, JPMorgan Chase, Citigroup, Goldman Sachs and Wells Fargo will kick off Q4 earnings season tomorrow.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Salesforce.Com Inc. (CRM) $325.60 2.05%
Caterpillar Inc. (CAT) $368.87 1.76%
Goldman Sachs Group Inc. (GS) $568.84 1.05%
Walgreens Boots Alliance, Inc. (WBA) $12.02 0.97%
Home Depot Inc. (HD) $392.73 0.91%
Dow Chemical Co. (DOW) $39.96 0.73%
American Express Co. (AXP) $298.84 0.61%
Visa Inc. (V) $308.47 0.51%
Apple Inc. (AAPL) $235.34 0.40%
3M Co. (MMM) $135.08 0.36%
Dow Jones - Fallers
Merck & Co. Inc. (MRK) $99.50 -1.47%
Amgen Inc. (AMGN) $267.15 -1.13%
Nike Inc. (NKE) $71.32 -1.05%
International Business Machines Corporation (CDI) (IBM) $215.12 -1.05%
Johnson & Johnson (JNJ) $143.30 -0.81%
Boeing Co. (BA) $169.42 -0.67%
Verizon Communications Inc. (VZ) $37.89 -0.60%
Travelers Company Inc. (TRV) $232.54 -0.34%
McDonald's Corp. (MCD) $282.67 -0.34%
Unitedhealth Group Inc. (UNH) $539.91 -0.23%
S&P 500 - Risers
Celanese Corp. (CE) $71.45 6.04%
Whirlpool Corp. (WHR) $126.50 4.83%
United Rentals Inc. (URI) $714.55 3.69%
Illumina Inc. (ILMN) $149.02 3.33%
Hanesbrands Inc. (HBI) $8.47 3.23%
Medtronic Plc (MDT) $84.32 3.09%
Travel + Leisure Co (TNL) $51.38 3.07%
TripAdvisor Inc. (TRIP) $14.77 3.00%
Eastman Chemical Co. (EMN) $91.75 2.95%
Wabtec Corp. (WAB) $197.50 2.95%
S&P 500 - Fallers
Eli Lilly and Company (LLY) $733.54 -8.02%
Foot Locker Inc. (FL) $20.75 -2.63%
Nektar Therapeutics (NKTR) $0.94 -2.51%
Perrigo Company plc (PRGO) $23.80 -2.22%
Fortinet Inc. (FTNT) $91.91 -2.05%
Estee Lauder Co. Inc. (EL) $73.47 -2.03%
Constellation Brands Inc. Class A (STZ) $182.35 -1.91%
Mattel Inc. (MAT) $18.07 -1.90%
IQVIA Holdings Inc. (IQV) $200.84 -1.86%
Valero Energy Corp. (VLO) $131.01 -1.75%
Nasdaq 100 - Risers
JD.com, Inc. (JD) $34.77 4.13%
Illumina Inc. (ILMN) $149.02 3.33%
Paypal Holdings Inc (PYPL) $86.12 2.54%
Tesla Inc (TSLA) $412.98 2.40%
Seagate Technology Plc (STX) $91.01 2.34%
American Airlines Group (AAL) $17.94 1.96%
J.B. Hunt Transport Services Inc. (JBHT) $182.74 1.96%
QUALCOMM Inc. (QCOM) $160.03 1.85%
Sirius XM Holdings Inc (SIRI) $21.28 1.82%
PACCAR Inc. (PCAR) $110.11 1.80%
Nasdaq 100 - Fallers
Qurate Retail Inc. (QRTEA) $0.33 -2.42%
Meta Platforms Inc. (META) $597.66 -1.75%
Regeneron Pharmaceuticals Inc. (REGN) $706.45 -1.46%
Biogen Inc (BIIB) $148.21 -1.31%
DENTSPLY Sirona Inc. (XRAY) $18.44 -1.18%
Amgen Inc. (AMGN) $267.15 -1.13%
Wynn Resorts Ltd. (WYNN) $80.44 -1.09%
Verisk Analytics Inc. (VRSK) $273.38 -0.76%
Biomarin Pharmaceutical Inc. (BMRN) $66.54 -0.67%
Hasbro Inc (HAS) $57.11 -0.51%
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