S&P 500 opens muted as hot inflation data signals rates to stay on hold

[NEW YORK] The S&P 500 was subdued at the open on Wednesday (May 13) as hotter-than-anticipated producer prices reinforced bets that the Federal Reserve would keep monetary policy restrictive all through this year.

The Dow Jones Industrial Average fell 86.0 points, or 0.17 per cent, at the open to 49,674.58.

The S&P 500 rose 8.2 points, or 0.11 per cent, at the open to 7,409.12​, while the Nasdaq Composite rose 59.4 points, or 0.23 per cent, to 26,147.646 at the opening bell. REUTERS