US: Wall St opens higher as bets on big rate hikes ease after inflation data

WALL Street rose sharply at the open on Wednesday as data showed a slower-than-expected rise in inflation last month prompted traders to cut their bets on a third straight 75-basis-point interest rate hike in September.

The Dow Jones Industrial Average rose 356.22 points, or 1.09 per cent, at the open to 33,130.63.

The S&P 500 opened higher by 58.55 points, or 1.42 per cent, at 4,181.02, while the Nasdaq Composite gained 299.51 points, or 2.40 per cent, to 12,793.44 at the opening bell. REUTERS