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Wall St opens higher after retail sales data


Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 5, 2023. REUTERS/Andrew Kelly

Wall Street’s main indexes opened higher on Wednesday after a bigger-than-expected drop in December retail sales supported hopes of smaller interest rate hikes by the Federal Reserve, while gains in Tesla and Microsoft boosted the Nasdaq.

The Nasdaq Composite (.IXIC) gained 75.84 points, or 0.68%, to 11,170.95 at the opening bell.

The Dow Jones Industrial Average (.DJI) rose 37.64 points, or 0.11%, at the open to 33,948.49, while the S&P 500 (.SPX) opened higher by 11.28 points, or 0.28%, at 4,002.25.