(Reuters) -The S&P 500 and the Nasdaq opened at record highs on Friday as a benign inflation report supported hopes for a dovish policy outlook from the U.S. Federal Reserve this year.

The Dow Jones Industrial Average rose 118.8 points, or 0.27%, at the open to 43505.6. The S&P 500 rose 9.7 points, or 0.16%, at the open to 6150.7​, while the Nasdaq Composite rose 49.4 points, or 0.24%, to 20217.264 at the opening bell.