The Dow Jones Industrials surged 213.04 points to pause at noon hour Tuesday at 38,982.70.
The broader index recovered 43.37 points to 5,161.31.
The NASDAQ rocketed 184,01 points, or 1.2%, to 16,203.29.
Technology stocks spurred higher after the release. Shares of chipmaker Nvidia climbed 2.2%. Microsoft gained roughly 1.3%. Oracle surged more than 9% after beating Wall Street earnings estimates.
The consumer price index climbed 0.4% in February and 3.2% year over year, the Bureau of Labor Statistics said on Tuesday. Economist polled by Dow Jones expected a 0.4% increase last month and 3.1% year-over-year, respectively. Core inflation, which strips out food and energy from the headline reading, climbed 0.4% in February, compared to a forecast gain of 0.3%.
Investors now turn their attention to the producer price index report due this week and the Fed’s next monetary policy meeting later this month.
Prices for the 10-year Treasury lost ground, raising yields to 4.15% from Monday’s 4.10%. Treasury prices and yields move in opposite directions.
Oil prices improved 42 cents to $78.35 U.S. a barrel.
Gold prices flopped $21.40 to $2,167.20.