The benchmark S&P 500 opened firmly above the 5,000 mark on Friday after data pointed to minimal revisions in last year’s inflation figures, supporting expectations that the US Federal Reserve will cut interest rates this year.

The Dow Jones Industrial Average rose 5.64 points, or 0.01%, at the open to 38,731.97.

US stocks tread water as market targets 5,000 for S&P 500

The S&P 500 opened higher by 6.26 points, or 0.13%, at 5,004.17, while the Nasdaq Composite gained 48.66 points, or 0.31%, to 15,842.38 at the opening bell.