US: Wall Street opens higher after Powell's remarks boost rate cut hopes
[NEW YORK] US stocks opened higher on Wednesday as hopes of an interest rate cut later this month were boosted by Federal Reserve Chairman Jerome Powell's comment that the central bank would "act as appropriate" to sustain record US growth.
The Dow Jones Industrial Average rose 68.47 points, or 0.26 per cent, at the open to 26,851.96.
The S&P 500 opened higher by 9.67 points, or 0.32 per cent, at 2,989.30. The Nasdaq Composite gained 41.47 points, or 0.51 per cent, to 8,183.20 at the opening bell.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Asia: Markets track Wall Street higher as rate hopes rise, eyes on US jobs
H2G Green chief to stand trial on Aug 5 amid MOM probe
Singapore shares climb at Friday’s open; STI up 0.2%
Stocks to watch: DBS, KIT, Clint, Elite Commercial Reit
Europe: Shares ease after Federal Reserve decision, mixed earnings
US: Tech shares lead stocks higher