US: Wall St climbs at open on China rate cut

[NEW YORK] Wall Street opened higher on Friday, setting major stock indexes up for a fifth week of gains, after China's central bank cut its benchmark interest rate for the first time in more than two years to boost its cooling economy.

The Dow Jones industrial average rose 131.46 points, or 0.74 per cent, to 17,850.46, the S&P 500 gained 12.43 points, or 0.61 per cent, to 2,065.18 and the Nasdaq Composite added 48.57 points, or 1.03 per cent, to 4,750.44.

REUTERS