Wall Street opens in green on trade, data

Thursday, 05. December 2019 15:30

Stocks on Wall Street started trading in the green on Thursday, propelled by fresh trade hopes, as well as the latest economic data's positive readings. China's Commerce Ministry said it was in "close contact" with Washington regarding the trade agreement, reiterating any deal would have to include a rollback of tariffs. In business news, Tiffany & Co. reported its third-quarter sales remained flat year-on-year. LG Chem Ltd. and General Motors Co. announced they will open a battery cell plant in Ohio, creating more than 1,100 jobs. United Airlines stated its chief executive will step down in May.

On data, the United States Department of Labor said initial jobless claims decreased by 10,000 to 203,000 for the week ending December 1. The Census Bureau's report on trade balance showed the trade deficit narrowed by $3.9 billion or 7.6% month on month in October.

The Dow Jones Industrial Average was up 0.34%, as Nike Inc. grew 2.25%. The Nasdaq 100 jumped 0.28%, with Fastenal Co. advancing 2.20%. The S&P 500 increased 0.21%, as Biogen Inc. climbed just 1.37%.

The euro rose 0.17% against the dollar at 9:29 am ET to go for 1.10978. Concurrently, the pound gained 0.26% to $1.31390.

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Author:
Breaking the News / MD