Wall Street opens higher for fourth consecutive session

US stock indices opened the third session of the week higher, recouping most of the losses sustained last week, the worst week in two years, and following earlier mixed data from the world's largest economy. 

Earlier US data showed retail sales fell 0.3% in January, missing expectations of a 0.2% rise, and compared to December's 0.4% rise, while core sales., excluding automobiles, were unchanged last month, compared to a 0.4% rise in December, while analysts expected a 0.5% rise. 

US consumer prices rose 0.5% m/m in January, beating expectations of a 0.3% rise, and compared to December's 0.1% increase, while core prices, excluding food and fuel, rose 0.3% m/m, beating expectations of a 0.2% rise, and same as December, 

On a yearly basis, consumer prices steadied at 2.1% unchanged from December, beating expectations of 1.9%, while core prices also steadied at 1.8%, above forecasts of 1.7%. 

Wall Street shed 0.5% at the very open today after strong inflation data stoked expectations of four Fed rate hikes this year, however the indices reversed quickly higher after data showed retail sales fell last month, raising questions about the strength of the US consumer, and throwing rate hike bets into the air again. 

As of 03:11 GMT, Standard and Poor's 500 rose 0.19%, or five points to 2,667.94, while Dow Jones added 0.15%, or 36.10 points to 24,676.55. 

Tech-heavy NASDAQ climbed 0.48%, or 33.76 points to 7,047.99.