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Stock market today: US stocks open flat but still eye weekly wins

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The prospect of a reversal from interest-rate hikes continues to buoy investors' spirits.

US stocks opened mostly flat on Friday as the major indices look for an upbeat end to a record-setting week with the prospect of a reversal from interest-rate hikes buoying investors' spirits. Both the S&P 500 and Dow Jones Industrial Average , which is eyeing the key 40,000 mark, opened flat to start the day. Contracts on the tech-heavy Nasdaq Composite opened marginally lower, down about 0.1%.

The gauges are on track for solid weekly gains, having racked up all-time closing highs after the Federal Reserve soothed worries it might scale back its forecast for rate cuts this year. Optimism that borrowing costs have peaked is also riding high on signs other big central banks are ready to pivot.

 

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