Wall Street opens modestly higher amid US-China trade optimism

Major equity indexes in the U.S. started the day in the positive territory as the latest headlines surrounding the U.S. – China trade conflict boosted the risk-appetite. As of writing, the Dow Jones Industrial Average was up 0.2% on the day while the S&P 500 and the Nasdaq Composite were adding 0.25% and 0.3%, respectively.

Earlier today, Kellyanne Conway, President Trump’s senior adviser, told Fox New that the U.S. and China were getting closer to a trade deal and President Trump was planning to meet Chinese President Xi “very soon.”  Among the 11 major S&P 500 sectors, the trade-sensitive industrials is leading the gains by adding 0.71%. On the other hand, a more-than-2% drop in crude oil prices weigh on the energy sector, which now trades 0.7% lower.