8/31/2022, 3:28 PM (Source: TeleTrader)
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US opens higher with economy in focus

Major stock markets indexes in the United States opened higher on Wednesday following a volatile premarket session that saw stocks going from the red to the green territory. The worries concerning the supplies of certain commodities and producers' capacities to respond to the needs caused the prices of oil futures and precious metals to fall. Meanwhile, Federal Reserve Bank of Cleveland President Loretta Mester reaffirmed the institution's readiness to fight the rising trend in inflation even if that means that the country's economy might go into a recession.

The Dow Jones Industrial Average opened 0.13% higher but turned to losses merely a minute after the opening bell rang, falling by 0.20% at 9:32 am ET before rising again to 0.10% 9:43 am ET. Its top performer at the opening was Amgen Inc., which went up by 1.73%. The Nasdaq 100 advanced by 0.87% or 105 points. The S&P 500 rose by 0.37%. Meta Platforms Inc. was the best performer on both of those indexes, soaring by 5.03%.

The euro lost 0.10% to the dollar at 9:28 am ET to sell for $1.00033.

Baha Breaking News (BBN) / JR