US Stocks Higher Amid Focus On Possible Fed Rate Rise

US stocks higher amid focus on possible Fed rate rise

NEW YORK, (APP - UrduPoint / Pakistan Point News - 29th August, 2016) - Wall Street stocks opened slightly higher Monday as traders kept focused on the US July jobs report coming Friday which could, if strong, support an early rate rise by the Federal Reserve.

Fed Chair Janet Yellen said on Friday that the case had strengthened for an increase in the benchmark federal funds rate, suggesting that strong hiring numbers could tip the Fed's hand, as early as its September 20-21 policy meeting. Five minutes into trade, the Dow Jones Industrial Average was up 0.3 percent at 18,447.93. The broad-based S&P 500 added 0.2 percent at 2,174.29, while the tech-rich Nasdaq Composite rose 0.1 percent to 5,225.71.