U.S. stocks opened higher Friday, with investors continuing to weigh signs of easing inflation as all three major benchmarks head for potential weekly gains. The Dow Jones Industrial Average (DOW:DJIA) rose 0.4% soon after the opening bell, while the S&P 500 (S&P:SPX) gained 0.5% and the Nasdaq Composite (NASDAQ:COMP) rose 0.7%, according to FactSet data, at last check. The U.S. Bureau of Labor Statistics said Friday that the cost of imported goods fell 1.4% in July, the first decline since December and the largest drop since April 2020. Investors will see a reading on 5-year inflation expectations from a University of Michigan survey at 10 a.m. Eastern Time. The S&P 500 is on track for a weekly gain of around 2%.
Aug. 12, 2022, 9:33 a.m. EDT