US stock indices edged higher on Friday as investors positioned themselves for Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Symposium for clues on monetary policy easing.
At the opening bell, the Dow Jones Industrial Average rose 166.3 points, or 0.41 per cent, to 40,879.12. The S&P 500 rose 31.8 points, or 0.57 per cent, to 5,602.49, while the Nasdaq Composite rose 153.4 points, or 0.87 per cent, to 17,772.727.
Oil prices rose 2 per cent on Friday on a weaker US dollar.
Brent crude futures rose $1.38, or 1.8 per cent, to $78.60 a barrel at 1220 GMT, while US West Texas Intermediate (WTI) crude futures rose $1.46, or 2 per cent, to $74.47.
Gold prices gained on Friday ahead of
Spot gold rose 0.7 per cent to $2,500.83 per ounce by 1219 GMT. US gold futures gained 0.8 per cent to $2,536.50.
Spot silver rose nearly 1.5 per cent to $29.41 per ounce.
