US stock indices rose on Tuesday on growing bets of early rate cuts by the Federal Reserve.
At 9:40 a.m. ET, the Dow Jones Industrial Average was up 43.65 points, or 0.12 per cent, at 37,429.62. The S&P 500 was up 10.63 points, or 0.22 per cent, at 4,765.26. The Nasdaq Composite was up 57.15 points, or 0.38 per cent, at 15,050.12.
On Friday, US stocks closed higher after the Personal Consumption Expenditures (PCE) report showed that inflation continues to fall toward the Fed’s average annual 2% target.
The yield on the 10-year treasury rose slightly at 3.91 per cent from 3.90 per cent late Friday.
The dollar index fell 0.03 per cent to 101.61, within sight of a 5-month-low of 101.42 struck on Friday. Euro rose 0.16 per cent to 1.1025 against US dollar.
European stock markets were closed on Tuesday.
In Asia, Japan’s benchmark Nikkei 225 index edged higher…
