The S&P 500 and Dow indexes hit a record high at the open on Friday, after Federal Reserve Chairman Jerome Powell's dovish remarks this week boosted bets of an interest rate cut this month.

This marks the third time the S&P 500 has hit an all-time high this week, and traded above the 3,000 level.

The Dow Jones Industrial Average rose 51.41 points, or 0.19%, at the open to 27,139.49.

The S&P 500 opened higher by 3.45 points, or 0.12%, at 3,003.36. The Nasdaq Composite gained 13.16 points, or 0.16%, to 8,209.20 at the opening bell.