US: Wall St opens slightly higher after inflation rises as expected

WALL Street’s main indexes opened slightly higher on Friday (May 31), after latest data showed inflation in the world’s largest economy rose largely in line with expectations, fanning hopes for forthcoming rate cuts from the Federal Reserve.

The Dow Jones Industrial Average rose 28.8 points, or 0.08 per cent, at the open to 38,140.26. The S&P 500 rose 7.7 points, or 0.15 per cent, at the open to 5,243.21?, while the Nasdaq Composite rose 34.8 points, or 0.21 per cent, to 16,771.896 at the opening bell. REUTERS