U.S. stocks open lower as inflation climbs, oil rally fades

U.S. stocks opened slightly lower Tuesday as a rise in inflation, which saw the fastest increase in April in more than three years, was viewed as supporting the Federal Reserve's case for hiking interest rates later this year. Meanwhile, a fading rally in oil futures also weighed on risk appetite. The S&P 500 was down 3 points, or 0.2%, to 2,063. The Dow Jones Industrial Average lost 34 points, or 0.2%, to 17,677 at the open. Meanwhile, the Nasdaq Composite began the session down 6 points, or 0.1%, at 4,769.

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