US: Nasdaq, S&P 500 open higher as cool inflation data lifts rate cut bets

THE tech-heavy Nasdaq and the benchmark S&P 500 opened higher on Friday (Jun 28) as a report closely watched by the Federal Reserve showed inflation moderating in line with expectations, strengthening hopes for early interest rate cuts this year.

The Dow Jones Industrial Average fell 71.67 points, or 0.18 per cent, at the open to 39,092.39.

The S&P 500 opened higher by 5.61 points, or 0.10 per cent, at 5,488.48, while the Nasdaq Composite gained 32.41 points, or 0.18 per cent, to 17,891.10 at the opening bell. REUTERS