S&P 500 opens above 5,000 points
The S&P 500 vaulted above 5,000 points early on Friday, extending a buoyant run on solid earnings and expectations of Federal Reserve monetary easing. Stocks have been on an upswing since late October as the Federal Reserve pivoted away from aggressive interest rate increases while inflation has eased. Revised consumer price index data showed a downward revision in December. About 15 minutes into trading, the broad-based S&P 500 was up 0.2 percent at 5,005. The index also briefly inched above 5,000 points on Thursday, but has yet to finish a session above that landmark level. The Dow Jones slipped 0.1 percent to 38,706, while the Nasdaq gained 0.4 percent to 15,849. Among individual companies, Expedia shares dropped almost 20 percent as it reported lower earnings compared with the year-ago period. The travel firm named company executive Ariane Gorin as its new CEO, replacing Peter Kern, who will continue to serve as vice chairman. (AFP)