The main U.S. stock indexes opened sharply higher on Tuesday after cooler-than-expected inflation data boosted expectations that the Federal Reserve was done raising interest rates.

The Dow Jones Industrial Average rose 243.33 points, or 0.71 percent, at the open to 34,581.20.

The S&P 500 opened higher by 47.42 points, or 1.07 percent, at 4,458.97, while the Nasdaq Composite gained 247.63 points, or 1.80 percent, to 14,015.37 at the opening bell.