US: Wall St rises at open after inflation data, chip stocks rally

WALL Street’s main indexes opened higher on Friday (Jul 28) after data showing easing inflation pressures added to hopes that the Federal Reserve’s policy tightening was ending, while chip stocks surged as Intel posted a surprise quarterly profit.

The Dow Jones Industrial Average rose 160.77 points, or 0.46 per cent, at the open to 35,443.49.

The S&P 500 opened higher by 28.34 points, or 0.62 per cent, at 4,565.75, while the Nasdaq Composite gained 149.72 points, or 1.07 per cent, to 14,199.83 at the opening bell. REUTERS