Market Rally on Fed Interest Rate Cut Speculation

Wall Street's main indexes opened higher on Friday following a key inflation report. The report indicated moderating price pressures, boosting expectations for an interest-rate cut by the Federal Reserve in September. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all posted gains at the opening bell.

Wall Street's key indexes recorded gains at the opening bell on Friday, buoyed by a significant inflation report that suggested price pressures were easing.

This has solidified the belief among investors that the Federal Reserve will likely cut interest rates during its upcoming September meeting.

Specifically, the Dow Jones Industrial Average increased by 31.11 points (0.08%) to 41,366.16, the S&P 500 rose by 20.78 points (0.37%) to 5,612.74, and the Nasdaq Composite surged by 134.06 points (0.77%) to 17,650.49.

(With inputs from agencies.)