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Nasdaq opens higher after inflation cools, oil extends gains
The day’s market tone was supported by a reported bumper quarter from major US banks tied to expectations for a stronger economy.
Wall Street started higher as the Nasdaq opened up following a sign that inflation has cooled, reinforcing the market view that the US economy may stay on stronger footing.
WSJ Markets also pointed to continued strength in oil, with crude extending gains as energy prices helped underpin broader risk sentiment.
The early move came alongside optimism around big banks’ performance, described as a bumper quarter that investors are using as evidence of economic resilience.
Latest closeWTI crude $78.04 ▲9.3%|Nasdaq Comp. 25,873.18 ▼1.6%
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