Wall Street opens higher as trade headlines remain primary driver of market sentiment

• US President Trump hints at trade deal with China on Friday.
• All 11 major S&P 500 sectors trade in positive territory in early trade.

Wall Street’s main indexes started the day in the positive territory supported by United States (US) President Donald Trump’s latest comments on the US-China trade dispute ahead of the opening bell. As of writing, the Dow Jones Industrial Average and the S&P 500 were both adding 0.15% on the day while the Nasdaq Composite was up 0.2%.

Regarding the possibility of a striking trade deal with China, President Trump said it was “potentially very close,” to help risk-on flows take control of the market action.

Among the 11 major S&P 500 sectors, which were all in the positive territory in the early trade, the risk-sensitive Technology Index is leading the winners by adding nearly 0.4% on a daily basis.

The University of Michigan’s Consumer Confidence Survey and the IHS Markit’s preliminary Purchasing Managers’ Index (PMI) data for November will be watched by the market participants in the next 30 minutes.