Wall Street Today: US stocks open slightly higher after inflation rises as expected

Wall Street’s main indexes opened slightly higher on Friday after the latest data showed inflation in the world’s largest economy was broadly in line with expectations, fueling hopes of a future interest rate cut from the Federal Reserve.

The Dow Jones Industrial Average rose 28.8 points (0.08%) to 38,140.26 at the time of opening. The S&P 500 rose 7.7 points, or 0.15%, to 5,243.21 at the opening, while the Nasdaq Composite rose 34.8 points, or 0.21%, to 16,771.896.

More to come….