Stocks Opened Higher after Latest Trade War Fear

U.S. stocks opened higher on Thursday, rebounding from a broad decline in the previous session as the tense trading relationship between the U.S. and China once again appeared to ease. The Dow Jones Industrial Average lately rose 140.68 points, or 0.57%, to 24,841.13. The S&P 500 gained 10.31 points, or 0.37%, to 2,784.33. The Nasdaq Composite rose 40.97 points, or 0.53%, to 7,757.58.

Oil prices rebounded Thursday as investors reevaluated news that had sent Brent to its biggest decline in almost 2 1/2 years on Wednesday. September Brent crude rose $1.08, or 1.5%, to $74.48 a barrel. August West Texas Intermediate crude was up 71 cents, or 0.9%, to $71.07 a barrel.

U.S. consumer prices barely rose in June, but the underlying trend continued to point to a steady buildup of inflation pressures that could keep the Federal Reserve on a path of gradual interest rate increases. The Labor Department said its Consumer Price Index edged up 0.1 percent as gasoline price increases moderated and the cost of apparel fell.

Delta Air Lines Inc (DAL.N) topped estimates for quarterly profit and operating revenue Thursday as a rise in average fares trumped an almost 40 percent surge in fuel costs. On an adjusted basis, Delta earned $1.77 per share in the second quarter, beating an estimate of $1.72, according to Thomson Reuters I/B/E/S.

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