U.S. stocks open higher amid trade hopes

0 Comment(s)Print E-mail Xinhua, October 9, 2019
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NEW YORK, Oct. 9 (Xinhua) -- U.S. stocks opened higher on Wednesday as investors are expecting the upcoming trade talks between the world's two largest economies.

Shortly after the opening bell, the Dow Jones Industrial Average jumped 134.87 points, or 0.52 percent, to 26,298.91. The S&P 500 climbed 18.08 points, or 0.62 percent, to 2,911.14. The Nasdaq Composite Index gained 55.57 points, or 0.71 percent, to 7,879.34.

All of the 11 primary S&P 500 sectors advanced, with technology and energy both up more than 1 percent shortly after the opening, leading the gainers.

Wall Street also digested Federal Reserve Chairman Jerome Powell's latest speech.

The U.S. central bank will start expanding its balance sheet again, Powell said Tuesday at the annual meeting of the National Association for Business Economics.

As for the monetary policy ahead, Powell said "policy is not on a preset course," and the Fed will "act as appropriate to support continued growth."

A flurry of disappointing U.S. data released recently raised hope for easier monetary policy from the Federal Reserve.

Market expectations for a rate cut later this month were more than 80 percent, according to the CME Group's FedWatch tool. Enditem

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