Wall Street opens modestly higher led by technology shares

Upbeat comments on US-China trade talks help technology shares gain traction.
Crude oil gains traction after falling for two days to boost energy shares.
Tech-heavy Nasdaq Composite outperforms S&P 500 and DJIA.

Eren Sengezer FXStreet

Wall Street's main indexes started the day modestly higher on Thursday as the US and Chinese deputy trade negotiators meet again for the first time in nearly two months. As of writing, the Dow Jones Industrial Average was up 0.18% on the day while the S&P 500 and the Nasdaq Composite were adding 0.23% and 0.55%, respectively.

Earlier today, White House economic adviser Larry Kudlow said that the mood in talks between US and China was now softer and Vice President Mike Pence said that the "atmospherics" was improving. The risk-sensitive Technology and the Communication Services indexes started the day higher and both were adding more than 0.5% at the time of press.

Meanwhile, following a deep two-day correction, crude oil prices started to rise again on Thursday and the supported the Energy Index, which was last up 0.35%.

On the other hand, among the 11-major S&P 500 sectors, Industrials and Utilities are posting modest losses in the early trade.

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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