Stocks open higher on mix of trade hopes, solid data and company earnings
U.S. stocks opened slightly higher on Thursday after Chinese officials said they hoped the U.S. would reach a compromise on the two sides' longstanding trade conflict. The S&P 500 was up 0.3% to around 2,849. The Dow Jones Industrial Average advanced 105 points, or 0.4%, to 25,588. The Nasdaq Composite rose 0.4% to 2,803. The day before, the blue-chip Dow saw its biggest single-day percentage decline since Dec. 4. Hua Chunying, a spokesperson at China's Ministry of Foreign Affairs, said China "hopes the U.S. will meet China halfway and implement the consensus reached by the two leaders during their meeting in Osaka." On the economic front, retail sales and productivity growth came in stronger than expected, underlining the U.S.'s solid growth foundation. In company news, Walmart Inc. helped to buoy investor sentiment after the Dow component reported better-than-expected, second-quarter earnings and same-store sales growth.
Published:8/15/2019 8:46:59 AM