U.S. stocks open higher, with S&P 500 heading for potential weekly gain

U.S. stocks opened higher Friday, with investors continuing to weigh signs of easing inflation as all three major benchmarks head for potential weekly gains. The Dow Jones Industrial Average rose 0.4% soon after the opening bell, while the S&P 500 gained 0.5% and the Nasdaq Composite rose 0.7%, according to FactSet data, at last check. The U.S. Bureau of Labor Statistics said Friday that the cost of imported goods fell 1.4% in July, the first decline since December and the largest drop since April 2020. Investors will see a reading on 5-year inflation expectations from a University of Michigan survey at 10 a.m. Eastern Time. The S&P 500 is on track for a weekly gain of around 2%.

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