CNBC Daily Open: A key inflation gauge in focus

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

Wall Street rallies
U.S. stocks ralliedWednesday as the S&P 500 rose 0.86% to close at a record, while the Dow gained 1.22%. Both indexes snapped three-day losing streaks. The tech heavy Nasdaq Composite added 0.51% with the major averages set to end the first quarter on a strong note. 

Yellen on China dumping
U.S. Treasury Secretary Janet Yellen warned that China is dumping its surplus of solar panels and EVs on global markets, distorting market prices. She added Beijing's actions are likely to hurt U.S. green manufacturing firms. Yellen said she will pressure China on these practices during her upcoming trip to the country.

Xi meets U.S executives
Chinese President Xi Jinping met with U.S. executives as businesses try to navigate tense relations between the countries. American business leaders included Blackstone founder Stephen Schwarzman, Qualcomm President and CEO Cristiano Amon and Bloomberg Chair Mark Carney among others. This signals Beijing's latest efforts to boost foreign investment in China as relations with the U.S remain fraught.

Baltimore port crisis
Global ocean carriers are putting U.S. companies on the hook for urgent cargo pickup as a result of the Port of Baltimore bridge collapse. The next few days could prove crucial in diverting trade away from the port, logistics executives told CNBC, after a container ship collided into the Francis Scott Key Bridge early Tuesday.

[PRO] Is it time to hedge?
Investors anxious over a market decline should hedge their positions to limit risk in