Bank stocks also showed early strength, with Morgan Stanley gaining 1.6 percent.
Boeing, the heaviest-weighted component of the Dow, slumped 10% amid that China and Indonesia - two of the biggest sales markets for the 737 Max 8 - had ordered it grounded after one crashed shortly after take-off on Sunday.
Trader Dudley Devine works on the floor of the New York Stock Exchange, Tuesday, March 12, 2019.
United States stocks rose on Tuesday as benign February inflation data supported the Federal Reserve's dovish stance on future rate hikes, but Boeing's fall for a second straight session pressured the Dow.
The Dow Jones Industrial Average rose 200.64 points, or 0.79 percent, to 25,650.88, the S&P 500 gained 40.23 points, or 1.47 percent, to 2,783.3 and the Nasdaq Composite added 149.92 points, or 2.02 percent, to 7,558.06.
KEEPING SCORE: The Dow fell 13 points, or 0.1 percent, to 25,436 as of 10:25 a.m. With a 33 point gain, the NASDAQ finished at 7,591.
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Technology and health care stocks did the most to push the market higher Tuesday. That snapped a five-day losing streak for the S&P, which was coming off its worst weekly stumble this year.
The S&P 500 index rose 24 points, or 0.9 per cent, to 2,815. Monday's losses wiped out 81 Dow points. The Nasdaq rose 16 points, or 0.2 per cent, to 7,576. CPI excluding the volatile categories of food and energy - considered by many to be a strong indicator of underlying inflation - rose 2.1% year-over-year, slower than the 2.2% pace anticipated.
Technology and health care companies powered much of the gains Wednesday.
Over the last 12 months, the all items index increased 1.5 percent before seasonal adjustment, said the department. The decisions come amid worries about flight systems in Boeing's 737 Max models following the weekend crash, which resulted in the death of 157 people near Ethiopia's capital, Addis Ababa. Facebook rose 2.3 per cent and Morgan Stanley rose 1.3 per cent.
Shares in Southwest Airlines sank 2.12 percent while American Airlines lost 0.2 percent, United Continental gave up 0.8 percent.
"With headline CPI inflation edging down to a two-and-a-half-year low of 1.5% in February, from 1.6%, and core inflation dropping to a four-month low of 2.1%, from 2.2%, the Fed would appear to be justified in supporting the real economy by being patient and leaving interest rates on hold for a potentially extended period", Paul Ashworth, chief U.S. economist for Capital Economics, wrote in a note Tuesday.