U.S. stocks were on the rise Monday morning, following a powerful rally on Friday, as investors watched for further signs of thaw in a protracted trade dispute between the U.S. and China—a tit-for-tat clash that has helped to weaken investor sentiment.
How are major indexes performing?
The Dow Jones Industrial Average DJIA, +0.85% rose 75 points, or 0.3%, at 23,505, while the S&P 500 index SPX, +1.16% gained 12 points, or 0.5% to 2,545. The Nasdaq Composite Index COMP, +1.54% tacked on 57 points, or 0.9% to 6,750.
What’s driving the market?
Senior officials from China unexpectedly attended negotiations between Beijing and their counterparts in Washington, in an effort to resolve longstanding trade disagreements that have underpinned uncertainty in global markets.
According to Bloomberg, Chinese Vice Premier Liu He, a top economic adviser to Chinese President Xi Jinping, was among attendees and some optimism has been drawn from the a top level official attended rather than lower-ranking officials.
Trade officials from both countries are looking to hammer out an agreement over the next 48 hours but some are doubtful of how to best ensure that both countries follow through on promises made during talks, with the Trump administration worried about enforcement.
The launch of trade meetings preceded a release by the Institute for Supply Management showing the U.S. services sector growing an a healthy pace, albeit slower last summer. Investors also continue to digest Friday’s job report, which showed that the U.S. economy added 312,000 new jobs in December, well above expectations for a gain of 182,000, according to a MarketWatch poll of economists.
The strong headline number, along with data showing wages grew faster than expected, helped dampen fears that the Federal Reserve is