Business

Dow hits record high at open after inflation data

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A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 5, 2021. REUTERS/Andrew Kelly

Aug 11 (Reuters) - The Dow Jones Industrial Average hit a record high at the open on Wednesday after data showed that growth in inflation appeared to have peaked in July, while economically sensitive stocks gained following the passage of an infrastructure bill.

The Dow Jones Industrial Average (.DJI) rose 36.22 points, or 0.10%, at the open to 35,300.89. The S&P 500 (.SPX) opened higher by 5.43 points, or 0.12%, at 4,442.18, while the Nasdaq Composite (.IXIC) gained 46.30 points, or 0.31%, to 14,834.38 at the opening bell.

Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila

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