US Stocks Open Higher On Optimism Of Trade Deal

Wall Street stocks opened solidly higher on Tuesday on optimism over US-China trade talks despite fresh signs of weakening global economic conditions.

New York, (UrduPoint / Pakistan Point News - 8th Jan, 2019 ) :Wall Street stocks opened solidly higher on Tuesday on optimism over US-China trade talks despite fresh signs of weakening global economic conditions.

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

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

As US and Chinese 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.

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

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