US: Wall St heads for weekly gains on signs of cooling inflation

WALL Street’s main indexes rose on Friday(Aug 12), setting the S&P 500 and the Nasdaq for a fourth straight week of gains on easing bets of another super-sized interest rate hike by the Federal Reserve after softer-than-expected inflation data this week.

The Dow Jones Industrial Average rose 94.05 points, or 0.28 per cent, at the open to 33,430.72.

The S&P 500 opened higher by 17.75 points, or 0.42 per cent, at 4,225.02, while the Nasdaq Composite gained 86.40 points, or 0.68 per cent, to 12,866.31 at the opening bell. REUTERS