U.S. stock indexes opened higher Friday morning, leaving the main three benchmarks on track to snap three weeks of losses.
The S&P 500
was trading 1% higher at 3,832, up 36 points; the Dow Jones Industrial Average
was gaining 1%, or 302 points, at 30,980; while the Nasdaq Composite Index
advanced 1.3% to trade at 11,382, up 150 points.
Investors have seen a slightly more upbeat complexion to an otherwise bearish market as expectations for inflation have moderated. Bond yields have cooled, with the 10-year Treasury note yield TMUBMUSD10Y receding this week at its fastest rate since March.
Market strategists are starting to question whether slowing growth and rising unemployment might already be having an impact on inflation after Federal Reserve Chairman Jerome Powell invoked the word “recession” during Congressional testimony earlier this week.