Inflation fears ease, markets open higher

Inflation fears were eased as consumer prices rose less than expected. The markets opened higher with the Dow gaining 49 points to 24,591. Nasdaq rose 16 points to 7355.

On the upside

First quarter revenue more than doubled for Carvana (NYSE: CVNA) to beat expectations.

Wright Medical Group (Nasdaq: WMGI) narrowed first quarter losses more than expected.

Pan American Silver (Nasdaq: PAAS) reported higher first quarter earnings and revenue.

On the downside

Nuance Communications (Nasdaq: NUAN) widened second quarter losses more than expected.

Exelixis (Nasdaq: EXEL) reported disappointing results from a Phase 3 study of atezolizumab.

Puma Biotechnology (Nasdaq: PBYI) reported a loss for the first quarter.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 gained 8 points to 2,705. Bitcoin soared $111 to $9,361.

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