Stocks opened higher on Friday as investors allay inflation concerns

US stocks opened higher on Friday as investors were buoyed by earlier comments from Federal Reserve Chair Jerome Powell on inflation.

In early trade, the Dow Jones Industrial Average was up 301.56 points, or 0.95%, to 32,076.08. The S&P 500 was up 46.41 points, or 1.16%, to 4,052.59 and the Nasdaq Composite was up 169.92 points, or 1.43%, to 12,032.05.

The surge added to gains made over the past two days after three consecutive weeks of losses.

On Thursday, the Fed Chair reiterated that the central bank would do everything in its power to curb inflation.

Tech stocks that rose earlier included Cloudflare (NET), which rose to $65.90, up $3.32, or 5.31%. WeWork Inc. (WE) shares rose $0.20, or 5.01%, to $4.29.

Next week’s inflation report is likely to “offer a mixed picture with some good news and some bad news,” economists at UniCredit Bank wrote.

https://www.ibtimes.com.au/wall-street-today-stocks-opened-higher-friday-investors-shake-inflation-concerns-1838201?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Stocks opened higher on Friday as investors allay inflation concerns

Fry Electronics Team

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