Wall Street Soars Amid Rate Cut Hopes and Meta's Sales Forecast

Wall Street's major stock indexes opened higher on Thursday, driven by the Federal Reserve's hints of a September rate cut and a positive sales outlook from Meta. However, gains were moderated due to a decline in chip stocks.

Wall Street's main stock indexes opened higher on Thursday, buoyed by the Federal Reserve's signals of a possible rate cut in September and a promising sales forecast from Meta. Despite these positive factors, a decline in chip stocks tempered the overall gains.

The Dow Jones Industrial Average rose by 74.2 points, or 0.18%, starting the day at 40,916.96. Similarly, the S&P 500 saw an increase of 15.5 points, or 0.28%, reaching 5,537.84 at the market's open. The Nasdaq Composite also experienced a positive uptick, increasing by 47.6 points, or 0.27%, to 17,647.032 as the opening bell rang.

(With inputs from agencies.)