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Wall Street Opens Higher on Russia Relief, Shrugs off PPI; Dow up 400 Pts -Breaking

by Mike Robinson

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© Reuters

Geoffrey Smith 

Investing.com — The U.S. stock market opened significantly higher Tuesday due to relief from an apparent decrease in Russian military activities at the Ukraine border. 

The Russian Defense Ministry earlier stated that the large-scale exercises by troops were over. This was a day after Sergey Lavrov, President Vladimir Putin’s Foreign Minister, signaled their willingness to engage in further diplomatic relations. 

It was the relief from the geopolitical surprise that outweighed disappointment over another alarmingly high U.S. Producer Price Inflation Report, which will increase the chances of an aggressive tightening in monetary policy. In January, producer prices increased by 1.0%. This was twice what we expected. The December figure for producers rose to 0.4%.

At 34,968 point, the index was at 1.2% increase by 9.35 am ET (135 GMT). It was 1.3% higher than the 1.7%.

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