Monday, 26 August 2019
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Stocks open higher on U.S.-China trade hopes

U.S. stocks climbed at the opening bell on Wednesday, following reports that Washington and Beijing were approaching a final trade deal. The S&P 500 was up 0.3% to around 2,876. The Dow Jones Industrial Average advanced 75 points, or 0.3%, to 26,255. The Nasdaq Composite rose 0.5% to 7,889.

The Financial Times reported that U.S. and China trade negotiations were mostly wrapped up, with China's Vice Premier Liu He set to meet with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Wednesday. Readings for purchasing managers indexes in China and Europe also came in higher than expected, suggesting the global slowdown may be bottoming out. In company news, shares of GameStop Corp fell 13% in premarket trading after the games retailer issued earnings guidance lower than Wall Street expectations.

Source : MarketWatch

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