Wall Street opens higher amid trade optimism

Eren Sengezer FXStreet

With the latest comments from the U.S. President Donald Trump boosting the risk sentiment, major equity indexes in the U.S. started the day in the positive territory. As of writing, the S&P 500 was up 0.7%, the Dow Jones Industrial and the Nasdaq Composite were adding 0.4% and 0.9%, respectively.

Over the weekend, President Trump, via Twitter, said that the had a “long and very good call” with his Chinese counterpart Xi Jinping and added: "Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute. Big progress being made!"

Out of the 11 major S&P 500 sectors, only the defensive Utilities and the Real Estate sectors are in the negative territory while the Consumer Discretionary and the Health Care indexes are both gaining more than 1%. The trade-sensitive Industrials index was last seen up 0.87% on the day.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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