NEW YORK (CNNMoney.com) - Stocks turned higher Thursday morning, a day after the Dow suffered the biggest one-day point decline for the blue chip average in three years.

The Dow Jones industrial average (down 214.28 to 11,205.61, Charts) gained 0.3 percent in the early going.

The broader Standard & Poor's 500 (down 21.76 to 1,270.32, Charts) index added 0.3 percent and the Nasdaq composite (down 33.33 to 2,195.80, Charts) was up about 0.7 percent.

Stocks sank Wednesday after the Labor Department said its Consumer Price Index, the government's main inflation gauge, jumped a bigger-than-expected 0.6 percent in April while the so-called core CPI, which excludes energy and food prices, rose by 0.3 percent. Both readings came in a shade above economists' forecasts.

Investors have been particularly concerned about inflation pressures in recent days as they look for clues as to what the Federal Reserve will do with interest rates at its next meeting in late June.

In corporate news, Sears Holding (unchanged at $137.96, Research), the owner of Sears and Kmart stores, posted a quarterly profit compared with a year-ago loss and settled a $215 million lawsuit.

Claire's Stores (unchanged at $27.80, Research), a jewelry retailer, posted a quarterly profit said that first-quarter earnings were unchanged from a year earlier.

And Burger King Holdings (Research), the second-largest U.S. hamburger chain, priced it initial public offering at $17 a share, at the high end of its previously announced price range, a price that raised $425 million for 19 percent of the company. Shares will start to trade Thursday.

Treasury prices rose, lowering the yield on the benchmark 10-year note to 5.11 percent, down from 5.16 percent Wednesday.

Crude oil for June delivery edged down 19 cents to $68.50 a barrel in electronic trading.

COMEX gold for June delivery gained 60 cents to $692.40 an ounce.

Major markets in Asia closed lower Thursday. Major European markets were mixed in early trading.

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