Wall Street Heads for Weekly Gains on Signs of Cooling Inflation

By Reuters
Reuters
Reuters
August 12, 2022 Updated: August 12, 2022

Wall Street’s main indexes rose on Friday, setting the S&P 500 and the Nasdaq for a fourth straight week of gains on easing bets of another super-sized interest rate hike by the Federal Reserve after softer-than-expected inflation data this week.

The Dow Jones Industrial Average rose 94.05 points, or 0.28 percent, at the open to 33,430.72. The S&P 500 opened higher by 17.75 points, or 0.42 percent, at 4,225.02, while the Nasdaq Composite gained 86.40 points, or 0.68 percent, to 12,866.31 at the opening bell.

Reuters