US: S&P 500, Nasdaq edge higher on solid consumer spending data, easing prices

THE S&P 500 and Nasdaq opened higher on Thursday after data showed a mild easing in inflation and solid consumer spending in October, adding to hopes of a likely downshift in the Federal Reserve’s aggressive rate hike policy.

The Dow Jones Industrial Average fell 56.2 points, or 0.16 per cent, at the open to 34533.59.

The S&P 500 rose 7.0 points, or 0.17 per cent, at the open to 4087.14?, while the Nasdaq Composite rose 7.2 points, or 0.06 per cent, to 11475.172 at the opening bell. REUTERS