Wall Street opens higher as tech leads charge

US stock indices opened the second session of the week higher as the tech sector led the charge higher on market optimism over the stimulating measures taking by China to prop up the economy, which offset disappointing American data. 

Earlier US data showed producer prices fell 0.2% m/m in December, missing estimates of a 0.1% dip, and compared to November's 0.1% increase. 

Core prices, excluding food and fuel, fell 0.1%, missing estimates of a 0.2% increase, and compared to November's 0.3% increase. 

The Empire State Manufacturing Index fell to 3.9 in January, missing estimates of 11.6, and compared to December's 10.9. 

Federal Reserve Bank of Kansas City President Esther George is scheduled to speak about the economic outlook and monetary policy later today, while a US government shutdown entered its fourth week, making it the longest such shutdown in US history. 

European Central Bank President Mario Draghi is testifying today about the annual ECB report before the European Parliament, while the UK Parliament is having a crucial vote on the Brexit deal with the US today, with odds on a likely rejection. 

Stock Performance 

As of 03:15 GMT, Standard and Poor's 500 rose 0.51%, or 13.23 points to 2,595.84, while Dow Jones inched up 0.02% to 4.03 points to 23,913.87. 

Tech-heavy Nasdaq surged 1.11%, or 76.70 points to 6,982.61.