Wall Street advances as focus on Fed’s Powell statements

The main indices on Wall Street opened higher on Thursday, before further statements by Federal Reserve Chairman Jerome Powell, after he expressed on Wednesday night the US central bank’s continued expectations that it will cut interest rates later this year.

According to Reuters, the Dow Jones Industrial Average rose 123.25 points, or 0.32%, to 38,784.30 points.

The Standard & Poor’s 500 index rose 27.62 points, or 0.54%, to 5,132.38 points.

The Nasdaq Composite Index gained 115.78 points, or 0.72%, to 16,147.32 points.