(Il Sole 24 Ore Radiocor) - Milano, 13 mar - US shares opened higher as investors reacted to a sharp downward revision in US growth and an easing of oil prices following a move to let some Russian crude back on the market.

In an effort to stem the surge in oil prices, the US gave a second waiver allowing countries to purchase sanctioned Russian crude already at sea. Crude prices fell around 2% but remained close to the 100 dollar per barrel mark.

As the war with the US and Israel intensifies, Iran is ramping up its attacks on infrastructure and energy-related assets, especially in and around the Strait of Hormuz, a critical chokepoint for global oil trade.

President Donald Trump said today the US was ready to escort oil tankers through the Strait 'if necessary'. Defense secretary Pete Hegseth then dismissed concerns over the effective closure of the Strait continuing to be a problem for the US. 'We have been dealing with it, and don't need to worry about it,' he said.

In a flurry of data meanwhile US economic growth in the fourth quarter was revised down sharply to 0.7% from a preliminary reading of 1.4% while the core PCE price index, the Federal Reserve's preferred inflation gauge, increased to an annual 3.1% from 3.0% the previous month.

The Fed is expected to keep interest rates on hold at its monetary policy meeting next week.

On the stocks front shares in Adobe fell 6.4% in early trade after it reported disappointing AI-driven revenue and said its longstanding CEO was stepping down. Shares in Ulta Beauty fell nearly 9% after underwhelming results and outlook from the cosmetics and fragrances retailer.

Just after the opening bell the Dow Jones was up 298.19 points, or 0.64%, at 46,976.04 points, the S&P 500 was up 35.27 points, or 0.53%, at 6,707.89, while the Nasdaq was up.

99.10 points, or 0.44%, at 22,411.08.

(RADIOCOR) 13-03-26 14:47:45 (0438) 5 NNNN