9/10/2021, 3:31 PM (Source: TeleTrader)
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US opens higher on Biden's push for vaccinations

United States major stock markets opened higher on Friday reversing some of the losses from earlier this week. After US President Joe Biden mandated that employees of big companies are obliged to get vaccinated against coronavirus, stocks tied to the economic recovery, such as Delta and American airlines, turned to green.

Investors traded cautiously on prospects that Federal Reserve will begin tapering its asset purchasing as soon as November. The concerns were reinforced by the latest data reports revealing that the producer price index rose by 8.3%, the biggest jump on an annual basis since November 2010.

The Dow opened 0.58% higher with Nike climbing 0.56%, while the S&P 500 gained 0.55% as Albemarle rose by 3.63%. The Nasdaq 100 increased by 0.64% led by Applied Materials advancing by 2.76%. The euro remained flat against the dollar exchanging hands for $1.18265 at 9:27 am ET.

Baha Breaking News (BBN) / LH