: U.S. stocks open higher after fresh reading of Fed’s preferred inflation gauge

U.S. stocks opened higher Thursday as investors weighed a fresh report on the Federal Reserve’s preferred inflation gauge. The Dow Jones Industrial Average DJIA gained 0.6% soon after the bell, while the S&P 500 SPX rose 0.1% and the Nasdaq Composite COMP climbed 0.1%, according to FactSet data, at last check. Inflation, as measured by the personal-consumption-expenditures price index, was unchanged in October while easing to a 3% rate of increase year over year, according to a report Thursday from the Bureau of Economic Analysis. Core PCE, which excludes food and energy prices, edged up 0.2% last month to increase to 3.5% on a year over year basis. The pace of annual  core inflation slowed from 3.7% in the 12 months through September. Treasury yields were up after the inflation report, with the yield on the 10-year Treasury note trading about five basis points higher at around 4.32%, according to FactSet data, at last check.

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