Stocks took a hit Tuesday after inflation came in hotter than expected for the month of January, with consumer prices rising 3.1% year-per-year, according to the Bureau of Labor Statistics.
At closing bell, the Dow Jones Industrial Average index advanced 151.52 points, or 0.4%, to 38,424.27. The S&P500 index added 47.45 points, or 0.96%, to 5,000.62. The tech-heavy Nasdaq Composite index was up 203.55 points, or 1.3%, to 15,859.15.
Total 9 of 11 S&P500 sectoral indices inclined, with industrial sector being top performer, rising 1.67%, while consumer staple sector was bottom performer, falling 0.19%.
Among individual stocks, shares of Lyft surged 35% after the ride-hailing company reported better than expected fourth quarter results and provided upbeat guidance.
Shares of Robinhood advanced 13% after investing platform reported reported better than expected fourth quarter earnings.
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