Wall Street's main indexes opened higher Friday with banks and megacap growth shares rising on the last day of a week that saw heightened volatility on concerns about the impact of rising inflation and interest rate hikes.

The Dow Jones Industrial Average rose 173.81 points, or 0.56%, at the open to 31,426.94.

The S&P 500 opened higher by 26.97 points, or 0.69%, at 3,927.76, while the Nasdaq Composite gained 154.18 points, or 1.35%, to 11,542.67 at the opening bell. (Reporting by Amruta Khandekar in Bengaluru; Editing by Arun Koyyur)