(MENAFN) The trading session on Friday saw US stocks opening higher, buoyed by robust performances from major corporate entities. Notably, Alphabet's impressive quarterly results propelled its market value above the significant milestone of two trillion dollars. This milestone achievement contributed to positive sentiment in the market, instilling confidence among investors. Additionally, concerns about rising interest rates were assuaged by a headline inflation reading, further bolstering market sentiment.
The Dow Jones Industrial Average kicked off the session with a gain of 28.9 points, equivalent to a 0.08 percent increase, bringing its value to 38,114.7. Likewise, the broader S&P 500 index recorded a rise of 36.2 points, or 0.72 percent, reaching 5,084.65. The Nasdaq Composite index experienced notable gains, surging by 209.6 points, or 1.34 percent, to 15,821.335 at the opening bell.
These positive openings reflect the market's reaction to strong corporate earnings reports, particularly from Alphabet, which underscored the resilience and strength of major companies in the face of economic uncertainties. Alphabet's robust quarterly results not only propelled its market value to a historic milestone but also provided a boost to overall market sentiment.
Moreover, the calming effect of the headline inflation reading on concerns about rising interest rates further supported the upward trajectory of US stocks at the opening of the trading session. This data point likely alleviated fears of aggressive monetary policy tightening measures by the Federal Reserve, providing a favorable backdrop for market participants.
Overall, the opening gains in US stocks underscored the optimism and resilience of the market, driven by strong corporate performances and positive economic indicators. As trading progresses throughout the day, investors will continue to monitor developments closely, navigating market dynamics and reacting to emerging trends and news.
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