Wall Street opens lower as oil climbs, inflation stays high

NEW YORK (AP) — Wall Street is off to a weak start Thursday, giving back some of the sizable gains it made a day earlier, as oil prices turned higher again. A report on U.S. consumer inflation came in at another 40-year high last month, but that doesn’t yet reflect the huge increase in energy prices since Russia’s invasion of Ukraine. The S&P 500 gave back 1% in the early going, deepening its losses for the week. Treasury yields rose after the inflation report, pushing the yield on the 10-year note back up to 1.97%. Oil prices were up about 4%. European markets were lower.