Stocks- Wall Street Opens Higher on Trade Talk Optimism
Published Aug 21, 2018 09:41AM ET
Wall Street opened higher on Tuesday.
Investing.com – Wall Street opened higher on Tuesday as trade talks between the U.S. and China continued to bolster investor confidence.
The S&P 500 rose 7 points, or 0.27%, to 2,864.78 as of 9:40 AM ET (13:40 GMT), while the Dow increased 60 points, or 0.23%, to 25,819.15 and the tech-heavy Nasdaq Composite rose 24 points, or 0.31% to 7,845.25.
U.S. and Chinese officials are expected to meet in Washington on Wednesday and Thursday to discuss trade disagreements, shortly before the latest round of trade tariffs go into effect.
However, U.S. President Donald Trump told Reuters that he does not expect much progress from the talks, dampening expectations that an agreement will be reached before the tariff deadline.
Medical marijuana company Canopy Growth Corp (NYSE:CGC) was among the top gainers after the morning bell, surging 3.43% after alcoholic beverage giant Constellation Brands (NYSE:STZ) invested in the company.
Meanwhile, Tesla (NASDAQ:TSLA) rose 0.92% while Apple (NASDAQ:AAPL) rose 0.31% and Netflix (NASDAQ:NFLX) was up 2.26%.
Retailer Kohl’s Corporation (NYSE:KSS) fell 2.13% after its full-year earnings forecast fell short of analyst' estimates despite strong earnings results.
In Europe stocks were mostly up. Germany’s DAX rose 86 points, or 0.70%, while in France the CAC 40 increased 45 points, or 0.84%, and in London, the FTSE 100 was down 17 points, or 0.23%. Meanwhile the pan-European Euro Stoxx 50 gained 27 points, or 0.80%, while Spain’s IBEX 35 surged 109 points, or 1.15%.
In commodities, gold futures rose 0.28% to $1,197.90 a troy ounce while crude oil futures increased 1.39% to $66.33 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.19% to 95.50.
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Written By: Investing.com
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