US: Wall Street opens higher as economic data allays growth worries

US stock indexes opened higher on Friday as data showed strength in consumer spending and signs of peaking inflation, providing relief to investors worried about a sharp slowdown in economic growth.

The Dow Jones Industrial Average rose 97.90 points or 0.30 per cent at the open to 32,735.09.

The S&P 500 opened higher by 19.59 points or 0.48 per cent at 4,077.43, while the Nasdaq Composite gained 129.04 points or 1.10 per cent to 11,869.69 at the opening bell. REUTERS