U.S. stocks opened higher on Friday but still remained at their lowest levels since late 2020 after a brutal wipeout that sheared more than $2 trillion off the value of S&P 500 stocks. The Dow Jones Industrial Average shed 10 points, or 0.1%, to trade at 29,946, remaining below the 30,000 threshold. The S&P 500 gained 12.8 points, or 0.4%, to 3,679. The Nasdaq Composite gained 73 points, or 0.7%, to 10,719. Federal Reserve Chairman Jerome Powell spoke earlier, but didn’t say much about monetary policy. A reading on U.S. industrial production came in at 0.2% growth in May, it’s fifth straight month of growth. Still, the number underperformed expectations.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
