US stocks opened higher on Wednesday after Federal Reserve chair Jerome Powell in prepared remarks ahead of his congressional testimony said the central bank expects to cut interest rate later this year.
At the opening bell, the Dow Jones Industrial Average rose 135.96 points, or 0.35%, to 38,721.15. The S&P 500 opened higher by 29.38 points, or 0.58%, at 5,108.03, while the Nasdaq Composite gained 152.41 points, or 0.96%, to 16,092.00.
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Published: 06 Mar 2024, 08:14 PM IST