U.S. stocks rose at the start of trade Friday, one day after both the Dow Jones Industrial Average and the S&P 500 index closed lower for the third-straight session amid anxiety about the state of U.S-China trade relations.
The Dow rose 56 points, or 0.2% to 27,818, the S&P 500 gained 7 points, or 0.2% to 3,111 and the Nasdaq Composite index advanced 23 points, or 0.3% to 8,531. Chinese President Xi Jinping injected a degree of trade optimism in markets when he told a forum in Beijing that "We want to work for a Phase 1 agreement on the basis of mutual respect and equality."
Reports this week, however, have provided conflicting narratives of the state of talks, with some suggesting that a deal won't be reached this year. In company news, Nordstrom shares rose 8% early Friday after the department-store chain issued better-than-expected earnings and shares of Tesla Inc. [TSLA] fell 4.4% following the disappointing reveal of its anticipated "Cybertruck" late Thursday.
Source : Marketwatch