US: Wall St opens higher as rate hike pause hopes grow

WALL Street’s main indexes opened higher on Thursday (Mar 23) after the Federal Reserve hinted it was close to pausing interest rate hikes amid a turmoil in the banking sector that threatens to cause a severe economic downturn.

The Dow Jones Industrial Average rose 71.38 points, or 0.22 per cent, at the open to 32,101.49.

The S&P 500 opened higher by 22.24 points, or 0.56 per cent, at 3,959.21, while the Nasdaq Composite gained 141.36 points, or 1.21 per cent, to 11,811.32 at the opening bell. REUTERS