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Wall Street opens higher after Microsoft’s beat, rate cut euphoria

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Traders walk on the floor of the New York Stock Exchange (NYSE) in New York, U.S., July 16, 2019. REUTERS/Brendan McDermid

(Reuters) – U.S. stocks opened higher on Friday as solid results from Microsoft lifted technology shares and added to market optimism after New York Fed President John Williams boosted hopes that the central bank was set to cut interest rates this month.

The Dow Jones Industrial Average .DJI rose 23.41 points, or 0.09%, at the open to 27,246.38.

The S&P 500 .SPX opened higher by 9.15 points, or 0.31%, at 3,004.26. The Nasdaq Composite .IXIC gained 34.10 points, or 0.42%, to 8,241.34 at the opening bell.

Reporting by Amy Caren Daniel in Bengaluru; Editing by Sriraj Kalluvila

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