U.S. Shares Rise Amid Slightly Higher Inflation

New York, NY (AHN) - U.S. stocks opened higher Wednesday as traders heard inflation rose slower than forecast. The Dow was up almost 100 points at 9:56 Eastern.

The Labor Department reported core prices in April rose 0.2 percent, a 0.1 percent increase over March. Analysts had projected a 0.2 percent jump.

The slow growth of inflation caused some on Wall Street to believe the Federal Reserve would forego another rate cut at its upcoming meeting.

The Dow Jones Industrial Average rose 99 points to 12,931 after rising 30 points in pre-open trading. Tuesday, the Dow fell 44 points.

The broader Standard and Poor's 500 index rose 11 points at 1,414.

The tech-heavy Nasdaq added 20 points to 2,514 after word that billionaire investor Carl Icahn may push for a proxy fight against Yahoo.

Crude oil rose 1.57 to $125.80 a barrel.

Gold prices fell $2.10 to $867.50 an ounce.