US: Wall St opens higher on rate cut hopes

[NEW YORK] US stocks opened higher on Tuesday after a senior Federal Reserve official pointed the way to a cut in interest rates in response to slowing economic growth.

The Dow Jones Industrial Average rose 143.04 points, or 0.58 per cent, at the open to 24,962.82. The S&P 500 opened higher by 18.19 points, or 0.66 per cent, at 2,762.64. The Nasdaq Composite gained 80.92 points, or 1.10 per cent, to 7,413.94 at the opening bell, a day after it confirmed correction territory.

REUTERS