The US stock market opened higher on Wednesday following the release of the latest Consumer Price Index report by the Department of Labor Statistics, which revealed a slight increase in annual inflation from 2.6% to 2.7% in November.

Business Highlights:

Macy's Inc. shared its third-quarter financial results before the market opened, while Adobe Inc. is scheduled to announce its fourth-quarter earnings after the market closes.

Market Performance:

The Dow Jones climbed by 0.21% or 87 points, with Nvidia Corporation leading the charge with a 1.63% increase. The Nasdaq 100 and S&P 500 also saw improvements of 0.83% and 0.50%, respectively, boosted by Mondelez International Inc., which jumped by 3.95%.

Currency Market:

The euro weakened by 0.17% against the dollar, trading at $1.051074 at 9:28 am ET.