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Stocks open higher, bounce as investors assess Fed rate path

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U.S. stocks opened higher Thursday, attempting to bounce back from a late selloff during the previous session after the Federal Reserve delivered a rate hike. The Dow Jones Industrial Average rose 197 points, or 0.6%:

U.S. stocks opened higher Thursday, attempting to bounce back from a late selloff the previous session after the Federal Reserve delivered a rate hike and Chair Jerome Powell said rate cuts by year end were unlikely.

Investors, however, were betting that the Fed will deliver cuts before year-end, helping equities to find support, analysts said. The Dow Jones Industrial Average DJIA, +0.71% rose 197 points, or 0.6% , while the S&P 500 SPX, +0.90% gained 0.9% and the Nasdaq Composite COMP, +1.26% jumped 1.3%

 

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