US stocks open higher as oil slips; telecoms hit by SpaceX spectrum deal

WALL Street’s main indexes opened higher on Friday (Oct 9) as oil prices retreated on easing Middle East supply concerns, though telecom shares remained under pressure after SpaceX’s spectrum acquisition raised competitive concerns across the sector.

The Dow Jones Industrial Average rose 67.32 points, or 0.13 per cent, at the open to 51,298.96. The S&P 500 rose 22.35 points, or 0.29 per cent, to 7,787.71, while the Nasdaq Composite rose 149.59 points, or 0.55 per cent, to 27,342.93. REUTERS