Market Pulse: Dow up 280 points as stocks open higher

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U.S. stock indexes kicked off higher Wednesday as investors pored over a fresh batch of corporate quarterly results. Investors are also awaiting an inflation report for Januarythat will be released on Thursday morning.

Meanwhile, Atlanta Federal Reserve President Raphael Bostic told CNBC during an interview that he is forecasting three rate hikes for 2022 and could lean toward four increases of at least 0.25 percentage points, in order to combat inflationary pressures. He said that the data would help the central bank determine if more increases are necessary and if those hikes need to be more intense.

There were no important economic figures set for release on Wednesday.

  • The Dow Jones Industrial Average
    DJIA,
    +0.80%

    rose 282 points, or 0.8%,to 35,745.

  • The S&P 500 index
    SPX,
    +1.08%

    was up 1.1% at 4,571.

  • The Nasdaq Composite Index
    COMP,
    +1.23%

    advancd 1.4% to 14,389.

In corporate news:

  • Shares of Chipotle Mexican Grill Inc. CMG were in focus after the fast-food chain more than doubled its profit to a record high in 2021, and spoke of expansion plans.