US: Wall Street rises at the open as retail sales fail to dampen rate-cut hopes

WALL Street’s main indexes opened higher on Tuesday (Jul 16) as bets continued for a September interest-rate cut by the Federal Reserve, even as strong retail sales data signalled a resilient US economy.

The Dow Jones Industrial Average rose 52.06 points, or 0.13 per cent, at the open to 40,263.78.

The S&P 500 opened higher by 12.87 points, or 0.23 per cent, at 5,644.09, while the Nasdaq Composite gained 61.70 points, or 0.33 per cent, to 18,534.27 at the opening bell. REUTERS