U.S. stocks open higher, with S&P 500 heading for potential weekly gain

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U.S. stocks opened higher Friday, with investors continuing to weigh signs of easing inflation as all three major benchmarks head for potential weekly gains. The Dow Jones Industrial Average DJIA, +0.33% rose 0.4% soon after the opening bell, while the S&P 500 SPX, +0.62% gained 0.5% and the Nasdaq Composite COMP, +0.93% rose 0.7%, according to FactSet data, at last check. The U.S. Bureau of Labor Statistics said Friday that the cost of imported goods fell 1.4% in July, the first decline since December and the largest drop since April 2020. Investors will see a reading on 5-year inflation expectations from a University of Michigan survey at 10 a.m. Eastern Time. The S&P 500 is on track for a weekly gain of around 2%.

This article was originally published by Marketwatch.com. Read the original article here.

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