North American stocks may open higher Friday after a U.S. government report showed that core inflation remains under control.

The consumer price index rose 0.7% in May, driven by higher energy prices, the U.S. Labor Department said today.

That’s up from April’s 0.4% rise and the highest gain since September 2005.

However, the core CPI, which excludes volatile food and energy prices, advanced just 0.1%, down from the previous month’s 0.2% increase.

Here at home, strong demand in Ontario helped national new motor vehicle sales surge 6.9% in April, Statistics Canada reported.

The Canadian dollar opened at US93.93¢, up 0.36 of a cent.

Crude-oil futures edged 30¢ lower to US$67.84 a barrel in electronic trading. Gold futures slipped $1.70 to US$654.20 an ounce.

Overseas, the FTSE 100 rose 0.6% in London, while the Nikkei 225 added 0.7% in Tokyo.

Toronto stocks ended sharply higher for a second straight session on Thursday, as shares of energy companies got a big boost from a surge in oil prices, while mining issues also rose.

The S&P/TSX composite index soared 142.47 points, or 1%, at 14,001.99, after a 135.19-point rise the previous session.

Nine of the 10 TSX main groups were higher, led by a 2.6% boost in the influential energy group and a 1.3% rise in the materials sector.

On the downside, financials slumped 0.2%.

The junior S&P/TSX Venture composite index rose 36.06 points, or 1.15%, to finish at 3,162.95.

In New York, U.S. stocks rose as the gain in oil prices boosted shares of Exxon Mobil, while data showing moderate inflation lifted optimism about the economy.

The Dow Jones industrial average gained 71.38 points, or 0.53%, to end at 13,553.73. The S&P 500 added 7.30 points, or 0.48%, to finish at 1,522.97. The Nasdaq composite index advanced 17.10 points, or 0.66%, to 2,599.41.

A U.S. government report showed a modest rise in the May Producer Price Index excluding food and energy costs. The data supported the notion inflation is in check even as the economy grows.