Wall Street Edges Higher as Inflation Data Fuels Fed Rate Cut Hopes

Wall Street's main indexes opened slightly higher on Friday. The recent inflation data from the world's largest economy met expectations, raising hopes for future rate cuts by the Federal Reserve. The Dow Jones rose 28.8 points, the S&P 500 gained 7.7 points, and the Nasdaq Composite increased by 34.8 points.

Wall Street's main indexes opened slightly higher on Friday, after latest data showed inflation in the world's largest economy rose largely in line with expectations, fanning hopes for forthcoming rate cuts from the Federal Reserve.

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