US markets open higher on trade optimism

Tuesday, 27. August 2019 15:32

Major stock markets in the United States were trading with gains shortly after the opening bell on Tuesday after the French President Emanuel Macron announced that the world's largest developed economies will push for changes in international trade accords and taxation rules. G7 meeting in Biarritz concluded with a joint declaration which implied simplification of the regulatory barriers between countries, but also asserted that the World Trade Organization needs to be overhauled with regard to intellectual property protection. Data on consumer confidence in the US will be published after the bell, while somewhat weaker housing price index was presented before the start of the session.

The Dow Jones increased by 0.49% or some 135 points at 9:30 am ET, with Johnson & Johnson leading the gains with its 1.82% increase. The Nasdaq 100 rose 0.65% after the start of the trading day, pushed higher by Activision Blizzard Inc.'s 4.11% rise. In the meantime, the S&P 500 expanded by 0.52% at 9:31 am ET as the Altria Group Inc. surged over the news it is negotiating an all-stock merger with Philip Morris International.

The euro traded flat against the dollar, changing hands for 1.1101 at 9:30 am ET.

Related Links: 
Breaking the News / MA