US: Wall St opens higher on hopes of trade concessions
09 July, 2018, 08:44
The broad advance in stocks suggests that traders anticipate that the trade spat won't last long enough or escalate badly enough to cause serious damage to either country's economy.
The Dow Jones Industrial Average gained 181.92 points, or 0.8 percent, to 24,356.74.
A solid pickup in hiring by US employers last month helped keep investors in a buying mood.
The S&P 500 index rose 23.21 points, or 0.8 percent, to 2,759.82.
The Nasdaq composite index was up 92.45 points to 7,678.88.
World stock markets rose and the euro climbed to a three-week peak on Friday as the threat of tariffs by the United States and China on billions of dollars of trade became a reality, though concerns about the conflict escalating capped the appetite for risk.
U.S. President Donald Trump has warned that the United States may ultimately target over $500 billion worth of Chinese goods, an amount that roughly matches its total imports from China past year.