The US stock market edged higher in early trade on Friday, in a likely sign that the rally triggered by the Federal Reserve's 25-basis-point rate cut will sustain.
The wider index, S&P 500, opened 0.23% or 15.43 points higher at 6,647.39 while tech-heavy Nasdaq was trading 0.34% or 75.33 points up at 22,546,05. The Dow Jones Industrial Average rose 0.23% or 106.68 higher to 46,249 at open.
Intel Corp., which had jumped as high as 25% in early trade on Thursday, erased gains and became one of the top decliners on Friday, ticking nearly 3% lower to trade at $29.67. Shares of giants like Tesla and Oracle were among the top performers, rising 2.14% and 2.59% respectively.
Apple's stock also edged higher to trade at $240.95 along with Microsoft shares, which rose 1% to trade at $513.84.
After markets opened, spot gold rose 0.433% to $3,660 an ounce, while oil benchmark Brent Crude declined 0.56% to $67.05 a barrel.
In early trade, only Energy and Financials sectors were trading lower out of the eleven sectoral indices. Gains were steered by Consumer Discretionary, Information Technology and Communication sector while Energy was the heaviest dragger.
The Bloomberg Dollar Spot Index rose 0.2% while the euro and British pound fell 0.3% and 0.5% to $1.1752 and $1.3487, respectively. The Japanese yen was little changed at 147.97 per dollar.
Bitcoin, the largest traded cryptocurrency, fell 1.1% to $116,274.11.
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