Wall Street opens higher as inflation meets estimates; weekend Iran talks in focus

US stocks opened Friday’s session higher after March inflation data largely met expectations, even as energy prices surged sharply. Investors are also watching if upcoming weekend talks can bring more clarity to the fragile Iran ceasefire.

The Dow Jones Industrial Average rose about 0.3%, while the S&P 500 and Nasdaq Composite also gained around 0.3% each at the open.

Data released by the Labor Department showed consumer prices rose 0.9% month-on-month in March, while annual inflation stood at 3.3%.

Economists had expected a 3.4% yearly rise and a similar monthly increase.

The spike in inflation was largely driven by energy costs. The gasoline index alone jumped 21.2%, accounting for nearly three-fourths of the monthly increase. It also marked the sharpest rise in the series since 1967, highlighting how disruptions around the Strait of Hormuz are feeding into prices.

More data, including durable goods orders and consumer sentiment, is expected later, which could offer cues on how the economy is holding up.

This comes after a steady run on Wall Street. The Dow has now turned positive for 2026 after notching up its seventh straight day of gains. The S&P 500 and Nasdaq, too, have moved higher through the week and are on track to end with solid gains.

Part of the support has come from easing geopolitical worries. US President Donald Trump has paused military action on Iran for two weeks, giving room for negotiations. But the situation is far from settled. Iran has flagged continued Israeli activity in Lebanon, while Israel has said there is no formal ceasefire in place. Talks over the weekend are expected to offer more clarity.

Oil prices have cooled from recent highs but are still elevated. Both Brent and WTI crude are holding below the $100 per barrel mark, as uncertainty around the Strait of Hormuz continues to linger.

Back home, markets ended on a strong note. The Sensex climbed 919 points to close at 77,550, while the Nifty rose 276 points to settle at 24,051. The rally also helped the benchmarks snap a six-week losing streak, with both indices gaining nearly 6% for the week.

Read more: Best week in five years: Markets snap six-week losing streak on global cues