: U.S. stocks open lower as investors weigh future path of Fed rate hikes


U.S. stocks opened lower Friday, as investors continue to weigh what stronger-than-expected inflation data from earlier this week will mean for the Federal Reserve’s future path of interest rate hikes. The Dow Jones Industrial Average was down 0.4% soon after the opening bell, while the S&P 500 fell 0.5% and the Nasdaq Composite dropped 0.7%, according to FactSet data, at last check. Cleveland Fed President Loretta Mester said Thursday that she had seen a “compelling” case for a half-point interest rate hike at the Fed’s last policy meeting that concluded Feb. 1, when the Fed lifted its benchmark rate by a quarter of a percentage point. The central bank has been trying to slow the economy and bring down inflation by raising rates. A report on the leading index of economic data from the Conference Board is scheduled to be released at 10 a.m. Eastern time on Friday.

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

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