NEW YORK, Feb. 13 (Xinhua) -- U.S. stocks opened higher on Wednesday, as U.S. consumer prices remained unchanged in January.
Shortly after the opening bell, the Dow Jones Industrial Average rose 55.1 points, or 0.22 percent, to 25,480.86. The S&P 500 rallied 5.57 points, or 0.20 percent, to 2,750.30. The Nasdaq Composite Index was up 22.84 points, or 0.31 percent, to 7,437.46.
Shares of Activision Blizzard rose over 5 percent after the market opened, after the U.S. video game company reported its adjusted quarterly profit that exceeded analysts estimates.
Nine of the 11 primary S&P sectors extended gains on Wednesday, with the energy sector up nearly 1.5 percent, leading the winners.
U.S. Consumer Price Index (CPI) were unchanged last month, as falling gasoline prices eroded increases in the cost of food and rents, the U.S. Bureau of Labor Statistics reported on Wednesday.
The CPI increased 1.6 percent for the 12 months ending January, the smallest increase since the period ending June 2017, the bureau said.
The market has widely believed that the upbeat inflation data would help the U.S. Federal Reserve to keep its interest rates steady for some time, as the Fed not rising rates is normally favorable to the stock markets. Enditem
