Wall Street opens mostly higher on tax cut prospects

US stock indices opened the second session of the week mostly higher, with the tech sector's gains offsetting dips in materials and industrials over the escalating US-China trade dispute. 

China said it'll ask the World Trade Organization for permission to sanction the US for violation of a ruling about dumping duties, while the New York Times reported that US administration is studying economic sanctions on Beijing for human rights violations. 

On another front, the Republican Party has launched its Congress re-election campaign by announcing another round of tax cuts, while also making individual tax cuts permanent. 

Otherwise, earlier US data showed wholesale inventories rose 0.6%, compared to a 0.1% increase in June, while an index tracking job opportunities rose to 6.94 million from 6.82 million in June.

Stock Performance 

As of 02:16 GMT, Standard and Poor's 500 rose 0.07%, or 2.04 points to 2,879.17, while Dow Jones climbed 0.10%, or 24.96 points to 25,82.03. 

Tech-heavy NASDAQ climbed 0.19%, or 15.42 points to 7,939.58.