Geoffrey Smith 

Investing.com — The U.S. stock market opened higher Friday as rate rise fears and inflation worries of earlier this week were eased by optimism about the economic strength. 

The index was 0.3% higher at 9:45 ET (1440 GMT) at 36,024 point. Both the and the were down by 0.1%. So all three of them are currently on the verge of their first down week since five.

This week’s ending is subdued after earlier data revealed that U.S. inflation was running at the highest level in over 30 years. The University of Michigan will release the Consumer Sentiment index at 10 AM. This could also be seen in the Labor Department monthly survey on vacant jobs.

Among individual movers, Johnson & Johnson (NYSE:) stock rose 1.3% after announcing its intention to separate its consumer healthcare division from its pharmaceuticals and medical devices units, hoping that the market will value the two businesses more highly as separate entities. J&J’s current price-earnings multiple of 24 compares poorly to that of pure play pharma rivals (Eli Lilly (NYSE:) stock, for example, currently trades at 40 times last year’s earnings).