US: Wall St opens subdued after hot producer prices data

Wall Street’s main indexes opened subdued on Friday (Feb 16) after a hotter-than-expected producer prices report dampened expectations of imminent interest rate cuts by the US Federal Reserve.

The Dow Jones Industrial Average fell 21.41 points, or 0.06 per cent, at the open to 38,751.71.

The S&P 500 opened higher by 1.40 points, or 0.03 per cent, at 5,031.13, while the Nasdaq Composite gained 4.26 points, or 0.03 per cent, to 15,910.43 at the opening bell. REUTERS