Wall Street Opens Higher on Rate Cut Optimism

Wall Street Opens Higher on Rate Cut Optimism
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on Sept. 28, 2023. (Brendan McDermid/Reuters)
Reuters
12/6/2023
Updated:
12/6/2023
0:00

Wall Street’s main indexes opened higher on Wednesday as investors were optimistic about rate cuts from the Federal Reserve early next year, after data showed further signs of a cooling labor market.

The Dow Jones Industrial Average rose 59.17 points, or 0.16 percent at the open, to 36,183.73. The S&P 500 opened higher by 19.05 points, or 0.42 percent, at 4,586.23, while the Nasdaq Composite gained 95.71 points, or 0.67 percent, to 14,325.62 at the opening bell.