US: Wall Street opens higher as rate-cut hopes linger

US STOCK indexes opened higher on Monday (May 6) as traders priced in a greater chance of the US Federal Reserve cutting interest rates this year following soft payrolls data last week.

The Dow Jones Industrial Average rose 86.8 points, or 0.22 per cent, at the open to 38,762.43.

The S&P 500 rose 14.6 points, or 0.29 per cent, at the open to 5,142.42​, while the Nasdaq Composite rose 52.2 points, or 0.32 per cent, to 16,208.537 at the opening bell. REUTERS