US stocks open higher on optimism of trade deal

The broad-based S&P 500 gained 100 per cent. — Reuters pic
The broad-based S&P 500 gained 100 per cent. — Reuters pic

NEW YORK, Jan 8 — stocks opened solidly higher today on optimism over US- trade talks despite fresh signs of weakening conditions.

About 10 minutes into trading, the Dow Jones Industrial Average was up 1.2 per cent at 23,801.85.

The broad-based S&P 500 gained 1.0 per cent to 2,575.07, while the tech-rich Nasdaq Composite Index advanced 1.1 per cent to 6,899.12.

As US and officials held a second day of trade talks in Beijing, President Donald Trump said on Twitter that the talks were “going very well” but offered no details.

Analysts also attributed the strong early trading to continued positive momentum following dovish commentary last week from the Federal Reserve.

have risen the last two sessions, a sharp improvement over December when stocks sank amid worries over .

That upbeat sentiment allowed investors to overlook new negative economic news, including weak profits from electronics giant and disappointing German industrial output data. — AFP

Source: The Malay Mail Online

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