Wall Street Opens Higher as Rate Hike Worries Ebb

Wall Street Opens Higher as Rate Hike Worries Ebb
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on May 4, 2023. Brendan McDermid/Reuters
Reuters
Updated:

Wall Street’s main indexes opened higher on Friday as signs of easing price pressures and slowing economic growth raised hopes the Federal Reserve could end its monetary tightening campaign soon.

The Dow Jones Industrial Average rose 55.96 points, or 0.16 percent, at the open to 34,464.02. The S&P 500 opened higher by 15.11 points, or 0.34 percent, at 4,440.95, while the Nasdaq Composite advanced 76.25 points, or 0.55 percent, to 13,859.07 at the opening bell.