US stocks rise on hopes for thaw in US-China relations

The major US stock indices opened mostly higher on Friday, optimism about a breakthrough in the US-China political relations.

This came following a phone call between US Presidents Joe Biden and his Chinese counterpart Xi Jinping.

The US Transportation Security Administration decided to increase the fine for refusing to wear a mask in public transportation to $3,000.

This comes amid concerns over the coronavirus pandemic, especially after the new highly transmissible delta strain emerged, which sparked worries over the global economic recovery.

As for stocks, Dow Jones fell 0.1% or 50 points to 34,828 as of 14:06 GMT, and S&P 500 rose 0.1% or 1 point to 4,494, while Nasdaq rose 0.3% or 45 points to 15,293.