Stocks Opened Higher on Hopes of Trade Concessions

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.