U.S stocks opened higher on Thursday, as signs of easing trade tensions in Europe helped to boost sentiment. The Dow Jones Industrial Average lately rose 122.86 points, or 0.51%, to 24,297.68. The S&P 500 added 12.71 points, or 0.47%, to 2,725.93. The Nasdaq Composite gained 46.69 points, or 0.62%, to 7,549.36.
Oil futures edged slightly higher Thursday, shrugging off a demand by President Donald Trump that the Organization of the Petroleum Exporting Countries move to counteract a rally that has prices near or above 3 ½-year highs. West Texas Intermediate crude for August delivery rose 36 cents, or 0.5%, to $74.50 a barrel. Brent crude was up 3 cents at $78.27 a barrel.
China rejected “threats and blackmail” ahead of a threatened U.S. tariff hike, striking a defiant stance Thursday in a dispute companies worry could flare into a full-blown trade war and chill the global economy.
Micron Technology Inc said on Thursday a temporary Chinese ban on a patent infringement lawsuit against the U.S. chipmaker would hurt its fourth-quarter revenue by just 1 percent, stemming concerns of a bigger impact.
Boeing and the Brazilian jet maker Embraer will attempt to form a joint venture that would push the U.S. aerospace giant more aggressively into the regional aircraft market.
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