US: Wall St inches up, set for weekly gains on rate-cut hopes

WALL Street’s main indexes opened slightly higher on Friday (May 17), heading for weekly gains on growing expectations of US interest-rate cuts this year.

The Dow Jones Industrial Average rose 42.34 points, or 0.11 per cent, at the open to 39,911.72.

The S&P 500 opened higher by 6.00 points, or 0.11 per cent, at 5,303.10, while the Nasdaq Composite gained 10.17 points, or 0.06 per cent, to 16,708.49 at the opening bell. REUTERS