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US: Stocks open higher as rate rise expectations ebb
[NEW YORK] US stocks opened higher on Thursday, following gains in Asia and Europe, as expectations of a Federal Reserve rate rise recede amid weak economic data.
Five minutes into trade, the Dow Jones Industrial Average was up 27.99 points (0.17 per cent) at 16,952.74.
The broad-based S&P 500 rose 7.19 (0.36 per cent) to 2,001.43, while the tech-rich Nasdaq Composite Index added 23.68 (0.50 per cent) at 4,806.53.
"It has mostly to do with the rush of thinking that weak economic data and tepid earnings guidance will keep the Fed on hold and encourage other central banks to provide even more stimulus," said Patrick O'Hare of Briefing.com.