US stocks opened higher on Friday after the Federal Reserve’s preferred inflation gauge –Personal Consumption Expenditures (PCE) price index – was found to be in line with expectations.
This served to allay fears that sustained price pressures could postpone interest rate reductions from the Federal Reserve.
At the open, the Dow Jones Industrial Average rose 154.1 points, or 0.34%, to 46,101.45. The S&P 500 rose 10.7 points, or 0.16%, to 6,615.38, while the Nasdaq Composite rose 18.6 points, or 0.08%, to 22,403.273.
