Wall Street opens sharply higher after US inflation data

Wall Street’s major indices opened sharply higher on Thursday. At the same time, data showed consumer prices rose less than expected in October, raising hopes that the US Federal Reserve may ease the pace of future interest rate hikes.

The Dow Jones Industrial Average rose 749.97 points, or 2.31 percent, to 33,263.91 at the open.

The Standard & Poor’s 500 index rose 111.32 points, or 2.97 percent, to 3,859.89 points at the opening, and the Nasdaq Composite Index increased 515.99 points, or 4.98 percent, to 10,869.17 points at the opening.