Wall Street Opens Higher as Investors Pin Hopes on Fed 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

Wall Street’s main stock indexes opened higher on Tuesday, building on strong gains in recent weeks as investors continued to bet on a policy pivot by the Federal Reserve next year.

The Dow Jones Industrial Average rose 5.80 points, or 0.02 percent, at the open to 37,311.82. The S&P 500 opened higher by 3.16 points, or 0.07 percent, at 4,743.72, while the Nasdaq Composite gained 17.82 points, or 0.12 percent, to 14,923.02 at the opening bell.