Wall St opens higher as inflation data boosts rate-pause hopes

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Traders work on the floor of the NYSE in New York

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. REUTERS/Brendan McDermid Acquire Licensing Rights

Aug 31 (Reuters) - Wall Street's main indexes opened higher on Thursday as a keenly awaited inflation reading came in line with expectations, keeping alive hopes the Federal Reserve could pause its monetary tightening.

The Dow Jones Industrial Average (.DJI) rose 18.85 points, or 0.05%, at the open to 34,909.09.

The S&P 500 (.SPX) opened higher by 2.14 points, or 0.05%, at 4,517.01, while the Nasdaq Composite (.IXIC) gained 22.23 points, or 0.16%, to 14,041.54 at the opening bell.

Reporting by Shristi Achar A in Bengaluru Editing by Vinay Dwivedi

Our Standards: The Thomson Reuters Trust Principles.

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