Stocks Opened Higher as U.S.-China Trade Tensions Eased

U.S. stocks opened higher on Tuesday, led by technology stocks, after Chinese President Xi Jinping promised to cut import tariffs, soothing investor concerns about rising U.S.-China trade tensions. The Dow Jones Industrial Average lately rose 334.86 points, or 1.40%, to 24,313.96. The S&P 500 gained 28.87 points, or 1.10%, to 2,642.03. The Nasdaq Composite added 70.56 points, or 1.02%, to 7,020.90.

Oil prices rose Tuesday morning amid receding U.S.-China trade tensions and rising geopolitical upheaval in the Middle East. Brent crude was up 1.4% at $69.60 a barrel. West Texas Intermediate futures were trading up 1.4% at $64.31 a barrel.

Chinese President Xi Jinping promised foreign companies greater access to China’s financial and manufacturing sectors, pledging Beijing’s commitment to further economic liberalization amid rising trade tensions with the U.S.

Kroger Co (KR) said on Tuesday it would hire 11,000 employees in its supermarket divisions, including Fred Meyer stores and Mariano’s Fresh Market, with nearly 2,000 of them for management roles.