Stocks opened higher Friday after a closely watched reading of inflation jumped, but was largely in line with expectations. The Dow Jones Industrial Average
DJIA,
+0.62%
rose 165 points, or 0.5%, to 34,362. The S&P 500
SPX,
+0.27%
was up 0.2% at 4,275.32, while the Nasdaq Composite
COMP,
+0.08%
rose 0.2% to 14,398.33. The S&P 500 and Nasdaq both ended at records Thursday, with stocks buoyed by an agreement between the Biden administration and a bipartisan group of senators on an infrastructure spending plan. The core personal consumption expenditure price index, the Fed's preferred inflation measure, moved up 0.5% in May. That nudged the increase over the past 12 months to 3.4% from 3.1%.