Wall Street opens higher amid US-China trade truce

Monday, 01. July 2019 15:32

Markets in the United States opened with gains on Monday amid the easing of trade worries and an increase in overall trade optimism. US President Donald Trump announced that his administration won't impose additional tariffs on Chinese imports, adding that the stalled trade negotiations between the two countries will resume where they left off. In the meantime, the Organization of the Petroleum Exporting Countries (OPEC) reportedly agreed to prolong the ongoing production cuts by another nine months.

The Dow traded 1.01% up at 9:30 am ET, jumping 259 points after the opening bell, pushed up by major tech stocks such as Intel Corp. and Apple Inc. The Nasdaq 100 started the day 1.93% higher as the Skyworks Solutions, Inc. surged 8.13% shortly after the session start. At the same time, the S&P 500 was 1.17% higher, which represents an all-time intraday high, influenced by Qorvo's 8.62% gains in the first minutes of trade.

The euro lost 0.27% against the dollar and changed hands for 1.1341 at 9:31 am ET, while the British pound slid 0.26% compared to the greenback, to go for 1.2663.

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Breaking the News / MA