Markets Right Now: Muted inflation news sends stocks higher

NEW YORK (AP) — The latest on developments in financial markets (all times local):

9:35 a.m.

Stocks are opening higher on Wall Street and bond yields are falling as investors are relieved to see that inflation remained in check last month.

Technology stocks and retailers, investors' favorites in recent months, were among the biggest winners in early trading Tuesday.

Google parent Alphabet rose 1 percent and Macy's climbed 1.4 percent.

Chipmaker Qualcomm slumped 3.3 percent after the White House blocked a hostile bid from Broadcom to take over the company, citing national security concerns.

The S&P 500 rose 13 points, or 0.5 percent, to 2,796.

The Dow Jones industrial average climbed 116 points, or 0.5 percent, to 25,294. The Nasdaq composite gained 38 points, or 0.5 percent, to 7,626.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.84 percent.