Market Pulse: Stock market kicks off Friday trade higher as Wall Street aims to break weekly streak of losses


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.

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