US: Wall St opens higher as inflation data fuels rate cut hopes

WALL Street’s main indexes opened higher on Thursday (Feb 29) as a key inflation metric came in line with estimates, raising hopes of interest rate cuts by the US Federal Reserve in the first half of the year.

The Dow Jones Industrial Average rose 64.73 points, or 0.17 per cent, at the open to 39,013.75.

The S&P 500 opened higher by 15.60 points, or 0.31 per cent, at 5,085.36, while the Nasdaq Composite gained 111.60 points, or 0.70 per cent, to 16,059.34 at the opening bell. REUTERS