"Wholesale Inflation Data Surprises, Stocks Open Higher: Market Update"

US stocks opened higher as investors reacted to hotter-than-expected wholesale inflation data, with the Dow Jones Industrial Average up 0.3%, the S&P 500 up 0.4%, and the Nasdaq Composite up 0.6%. The producer price index for September rose 2.2% from a year earlier, surpassing expectations and indicating ongoing inflationary pressures. Treasury yields retreated from recent highs, but analysts remain cautious about the future direction of yields. Investors are now speculating that the Federal Reserve may not hike interest rates at its November meeting. Oil prices continued to slide, while Exxon Mobil agreed to acquire shale rival Pioneer Natural Resources in a $60 billion all-stock deal.