6/9, 3:30 PM (Source: TeleTrader)
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Wall Street opens higher, S&P hovers near record

Wall Street opened with gains on Wednesday with the S&P 500 just three points below a new record high. Investors were awaiting the next report on consumer prices in the United States set to be released on Thursday.

Officials from the Federal Reserve have stated they expect rising inflation to be only temporary, indicating that current policy will remain in place until the economy stabilizes from the pandemic. Meanwhile, meme stocks continued to trade with high volatility as investors on Reddit boosted shares of Clover Health.

The Dow Jones was up 0.06% at the open before flatlining several minutes later. The S&P 500 rose 0.08% as Fox Corp. led the gains. The Nasdaq 100 jumped 0.41% with Pinduoduo climbing over 2% as one of the best performers.

Breaking the News / JC