US stock indices edge up at the opening

US stock indices edged up on Friday as Wall Street heads for weekly gains. 

Earlier data showed US consumer prices rose 0.3% m/m in April, below estimates of 0.4%.

Fed Chair Jerome Powell said on Tuesday that he expects inflation to decline in the next few months, which is a positive sign for the markets and a strong hint at rate cuts. 

According to the Fedwatch tool, there’s a 51.7% chance the Federal Reserve will cut interest rates in September. 

On trading, Dow Jones rose 0.1%, or 53 points as of 15:58 GMT to 39,922, while S&P 500 rose 0.1%, or 4 points to 5,301, as NASDAQ rose 0.1%, or 14 points to 16,712.