Higher open as CPI rises 0.4%

The market opened higher with the Dow rising 21 points to 24,525 as consumer prices edged up 0.4%. Nasdaq gained 18 points to 6,880.


On the upside


Finisar (Nasdaq: FNSR) received a $390 million investment from Apple (Nasdaq: AAPL) to increase production of laser diodes that are used in the iPhone X for Face ID, Animoji and portrait mode selfies.


Western Digital (Nasdaq: WDC) and Toshiba have settled their dispute over the proposed sale of their NAND flash memory SanDisk joint venture.


A class action lawsuit was filed against Qudian (NYSE: QD) but the stock price rose.


On the downside


Nordic American Tankers (NYSE: NAT) launched a recapitalization program.


Shares of Lumentum Holdings (Nasdaq: LITE) tumbled after Apple (Nasdaq: AAPL) invested in rival Finisar (Nasdaq: FNSR).


Investors locked in profits on AK Steel Holding (NYSE: AKS).


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 added 3 points to 2,667. Bitcoin tumbled $277 to $16,799.


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