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Image by BRYAN R. SMITH/AFP/Getty Images

The Dow opened down by triple digits today following the release of the much-anticipated Consumer Price Index report, which showed prices rose 1.7% from a year ago against analyst forecasts of 1.5%. It finished the day up 253 points, or about 1%.

Why it matters: Coupled with last week's news of increased wage growth—which caused all three major U.S. stock indexes to finish the five-day trading period down 5%, per CNBC—investors fear inflation will cause the Federal Reserve to hike up interest rates.

Below, we'll be tracking the Dow's movements throughout the day:

  • 9:32am: 24,527.57 (down 113 points)
  • 9:54am: 24,602.89 (down 38 points)
  • 10:12am: 24,654.91 (up 14 points)
  • 10:43am: 24,703.41 (up 63 points)
  • 12:17pm: 24,642.80 (up 2 points)
  • 1:15pm: 24,784.47 (up 144 points)
  • 2:18pm: 24,836.16 (up 196 points)
  • 3:38pm: 24,886.15 (up 246 points)
  • 4:00pm: 24,893.49 (up 253 points)

Go deeper

Storms pummel flood-hit Pacific Northwest as border river overflows

An image of the water-logged Sumas Prairie area taken last Friday. Photo: B.C. Ministry of Transportation/Twitter.

The latest ferocious storm system to hit the Pacific Northwest triggered fresh evacuation orders and at least one mudslide in flood-ravaged British Columbia, Canada, late Sunday.

Threat level: Flood sirens sounded in Washington state as the Nooksack River overflowed. Henry Braun, mayor of Abbotsford, B.C., told reporters the water flow was headed toward the Canadian border city later Sunday. "There's nothing to stop it," he said.

Updated 3 hours ago - Health

First North American Omicron cases identified in Canada

COVID-19 testing personnel at Toronto Pearson International Airport in September. Photo: Steve Russell/Toronto Star via Getty Images

The first two cases of the new Omicron variant have been detected in North America, the Canadian government announced Sunday evening.

Driving the news: The World Health Organization has named Omicron a "variant of concern," but cautioned earlier on Sunday that it is not yet clear whether it's more transmissible than other strains of COVID-19.

Former Defense Secretary Esper sues Pentagon over book

Former President Trump and former Defense Secretary Mark Esper at the White House in 2020. Photo: Mandel Ngan/AFP via Getty Images

Former Defense Secretary Mark Esper filed a lawsuit Sunday against the Defense Department, accusing the Pentagon of "censoring" his First Amendment rights by redacting aspects of his upcoming book on the Trump administration.

The big picture: Esper, who served as defense secretary from July 2019 until he was fired by then-President Trump in November last year, alleges in the suit that "significant text" is "being improperly withheld from publication" of the manuscript "under the guise of classification."