Financial news

Wall Street opens higher for second day on rate cut hopes

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Via Reuters Finance

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., June 4, 2019. REUTERS/Brendan McDermid

(Reuters) – U.S. stocks rose at the open on Wednesday after a report showed smallest monthly private jobs growth in May since 2010, raising bets that the central bank would lower interest rates to counter any economic slowdown.

The Dow Jones Industrial Average rose 118.82 points, or 0.47%, at the open to 25,451.00. The S&P 500 opened higher by 14.82 points, or 0.53%, at 2,818.09. The Nasdaq Composite gained 58.56 points, or 0.78%, to 7,585.68 at the opening bell.

Reporting by Medha Singh in Bengaluru; Editing by Sriraj Kalluvila

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