US Stock Market Today: Wall Street Opens Higher On Fed Rate Cut Bets; Meta Surges 4%

The major US stock market indices – S&P 500, Dow Jones Industrial Average, and Nasdaq Composite extended previous day's gains at open on Thursday, as bets around rate cuts by the Federal Reserve strengthened.

In the initial minutes of trade, Meta Platform Inc.'s stock jumped 4.12% to $665.20 after CEO Mark Zuckerberg announced plans to cut back metaverse spending.

The S&P 500 opened 0.19% or 12.99 points higher at 6,862.71, whereas the tech-heavy Nasdaq rose 0.21% or 48.29 points to 23,502.38. Dow Jones opened 0.11% higher or 52.79 points higher at 47,935.69.

(This is a developing story)