Wall Street Opens Higher After Fed Hints at Rate Cuts

Wall Street Opens Higher After Fed Hints at Rate Cuts
A trader works, as a screen displays a news conference by Federal Reserve Board Chairman Jerome Powell following the Fed rate announcement, on the floor of the New York Stock Exchange (NYSE) in New York City on Dec. 13, 2023. Brendan McDermid/Reuters
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Wall Street’s main indexes opened higher on Thursday, a day after the Federal Reserve hinted an end to its recent aggressive rate hikes and signaled that borrowing costs would be lower next year.

The Dow Jones Industrial Average rose 25.39 points, or 0.07 percent, at the open, to 37,115.63. The S&P 500 opened higher by 13.95 points, or 0.30 percent, at 4,721.04, while the Nasdaq Composite gained 64.76 points, or 0.44 percent, to 14,798.72 at the opening bell.