Wall Street opens higher on US-China trade hopes

2019-01-08 16:00:30 GMT (Economies.com)
Wall Street opens higher on US-China trade hopes

US stock indices opened the second session of the week higher for the third straight session following earlier US data and amid ongoing US-China trade talks on the ministerial level in Beijing. 

 

Earlier US data showed an index tracking job opportunities fell to 6.89 million from 7.13 million in October, missing estimates of 7.07 million.  

 

US labor data released last week, showed the unemployment rate rose to 3.9% in December from 3.7% in November, which was the lowest since 1969, while analysts expected no change. 

 

US average hourly earnings rose 0.4% in December, beating estimates of 0.3% and up from 0.2% in November. 

 

The US economy added 312 thousand new jobs in December, the fastest such pace since February 2018, and beating estimates of 179K, and compared to November's 176K, revised from 155K. 

 

Otherwise, US trade secretary Wilbur Ross recently noted how the US and China could reach a good settlement when it comes to direct trade, but the structure of trade issues and their execution may prove a more difficult process, noting how China is awakening to its economic dependence on US trade. 

 

Stock Performance 

 

As of 03:22 GMT, Standard and Poor's 500 rose 0.34%, or 8.78 points to 2,558.47, while Dow Jones rallied 0.65%, or 153.71 points to 23,685.06. 

 

Tech-heavy Nasdaq inched up 0.22%, or 15.31 points to 6,838.78. 

 
 
 
  Symbol Last Change Chg.%
1.1296
-0.0001
0.0089%
1.3195
-0.0024
0.1842%
15.450
0.015
0.100%
58.352
-0.516
0.877%
67.03
-0.83
1.22%
1315.050
1.815
0.138%
 
 
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