04:05 PM EDT, 03/12/2024 (MT Newswires) -- US equity markets ended higher Tuesday as traders digested the consumer price index for February.

* The US seasonally adjusted consumer price index rose by 0.4% in February, as expected in a survey compiled by Bloomberg and following a 0.3% increase in January, the Bureau of Labor Statistics said. Core CPI, which excludes food and energy prices, rose by 0.4%, same as in the previous month and above the consensus estimate for a 0.3% increase.

* Small business optimism index slipped to 89.4 in February from 89.9 in January as owners indicated that inflation was their most pressing concern, according to the National Federation of Independent Business. The consensus was for an improvement to 90.5 in a survey compiled by Bloomberg.

* April West Texas Intermediate crude oil closed down $0.12 to $77.81 per barrel, while May Brent crude, the global benchmark, was last seen down $0.07 to $82.14.

* Southwest Airlines ( LUV ) shares fell 15% after the company said it expects higher costs in Q1 after Boeing ( BA ) advised the budget carrier it will be delivering fewer aircraft in 2024. Shares of Boeing ( BA ) were down 4.3%.

* 3M ( MMM ) shares rose 5% after the company said it has appointed William Brown as its chief executive officer, succeeding Michael Roman, effective May 1.