MARKETS: Stocks are moving higher on Wall Street in early trading as U.S. markets reopen following New Year's.
News headlines today: Jan. 2, 2020NEW YORK -- Stocks moved higher on Wall Street in early trading Thursday as U.S. markets reopened following the New Year's Day holiday.
Investors have been encouraged in recent weeks as the U.S. and China have taken steps to resolve some of their differences in their long-running trade dispute. Washington and Beijing announced last month that they reached an agreement over a"Phase 1" trade deal that calls for the U.S. to reduce tariffs and China to buy larger quantities of U.S. farm products.tweeted that he will sign the initial trade deal with China at the White House next month.
Communication services and industrial stocks also notched solid gains. Google parent Alphabet was up 1.5% and General Electric rose 1.8%.KEEPING SCORE: The S&P 500 was up 0.5% as of 10:12 a.m. Eastern time. The Dow Jones Industrial Average rose 175 points, or 0.6%, to 28,714. The Nasdaq composite gained 0.8%.
ENERGY: Benchmark U.S. crude oil rose 7 cents to $61.13 a barrel. Brent crude, the international standard, was up 24 cents to $66.24 per barrel.
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