Dow climbs more than 200 points, about 4% shy of its all-time high at the open, as inflation concerns ebb
U.S. stock benchmarks trade higher Monday morning, as worries about the inflation picture and rising rates recede. The Dow Jones Industrial Average rose about 225 points, or 0.9%, at 25,534, while the S&P 500 index was up 0.6% at 2,763. The Nasdaq Composite Index climbed 0.6% to 7,383. The Nasdaq is less than 2% shy of its Jan. 26 record, while the Dow is about 4% from its all-time peak, while the S&P 500 is just 3.7% short of its late January record, highlighting the recent rally for those benchmarks since tumbling by at least 10% on Feb. 8. Concerns that inflation could be returning to markets, and that the U.S. central bank may have to more aggressively raise interest rates to combat such a scenario, has been the primary driver of trading in recent weeks, even eclipsing a strong earnings season. In corporate news, United Parcel Service Inc. announced it is suing the European Union's antitrust watchdog for $2.15 billion plus interest over its decision to block a $7 billion merger with Dutch-based TNT Express NV in 2013.