US: Wall St rises ahead of Powell’s testimony

WALL Street’s main indexes opened higher on Thursday (Mar 7) ahead of more commentary from Jerome Powell after the Federal Reserve chair stuck to the script overnight by saying the central bank still expects to cut rates later this year.

The Dow Jones Industrial Average rose 123.25 points, or 0.32 per cent, at the open to 38,784.30.

The S&P 500 opened higher by 27.62 points, or 0.54 per cent, at 5,132.38, while the Nasdaq Composite gained 115.78 points, or 0.72 per cent, to 16,147.32 at the opening bell. REUTERS