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SNAPSHOT S&P 500, Dow Jones open higher after December inflation data

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Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 5, 2023. REUTERS/Andrew Kelly

The S&P 500 and the Dow Jones opened higher on Thursday after further evidence of cooling inflation boosted bets that the Federal Reserve will slow the pace of its future interest rate hikes.

The Dow Jones Industrial Average (.DJI) rose 74.85 points, or 0.22%, at the open to 34,047.86, and the S&P 500 (.SPX) opened higher by 7.96 points, or 0.20%, at 3,977.57.

The Nasdaq Composite (.IXIC) dropped to 10,931.67 points at the opening bell.

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