Wall Street Opens Higher as Bets on Big Rate Hikes Ease After Inflation Data

By Reuters
Reuters
Reuters
August 10, 2022 Updated: August 10, 2022

Wall Street rose sharply at the open on Wednesday as data showed a slower-than-expected rise in inflation last month prompted traders to cut their bets on a third straight 75-basis-point interest rate hike in September.

The Dow Jones Industrial Average rose 356.22 points, or 1.09 percent, at the open to 33,130.63. The S&P 500 opened higher by 58.55 points, or 1.42 percent, at 4,181.02, while the Nasdaq Composite gained 299.51 points, or 2.40 percent, to 12,793.44 at the opening bell.

Reuters