Wall Street Opens Higher After Jobs Data; Debt Default Averted

A Wall Street sign outside the New York Stock Exchange in New York City, N.Y., on Oct. 2, 2020. Carlo Allegri/Reuters

U.S. stock indexes opened higher on Friday after data showed a moderation in wage growth in May boosted bets that the Federal Reserve will skip raising interest rates this month, while investors cheered the country averting a debt default.

The Dow Jones Industrial Average rose 126.01 points, or 0.38 percent, at the open to 33,187.58. The S&P 500 opened higher by 19.99 points, or 0.47 percent, at 4,241.01, while the Nasdaq Composite gained 89.50 points, or 0.68 percent, to 13,190.48 at the opening bell.