US: Rate-cut hopes prompt higher Wall St open

WALL Street’s main stock indexes opened higher on Thursday (Aug 1), boosted by the Federal Reserve’s signals of a September rate cut and a rosy sales forecast from Meta, although a pullback in chip stocks kept gains in check.

The Dow Jones Industrial Average rose 74.2 points, or 0.18 per cent, at the open to 40,916.96.

The S&P 500 rose 15.5 points, or 0.28 per cent, at the open to 5,537.84​, while the Nasdaq Composite rose 47.6 points, or 0.27 per cent, to 17,647.032 at the opening bell. REUTERS