Stocks Opened Higher, Dow and S&P 500 Extended Record Run

U.S. stocks opened higher on Friday, with the Dow and S&P 500 extended their record run, despite an escalation in tariff tensions between the U.S. and China. The Dow Jones Industrial Average lately rose 60.40 points, or 0.23%, to 26,717.38. The S&P 500 gained 7.16 points, or 0.24%, to 2,937.91. The Nasdaq Composite advanced 11.95 points, or 0.15%, to 8,040.18.

Oil prices rose early Friday, ahead of a meeting in Algeria between major producers at which production levels are expected to be discussed in anticipation supply disruptions. November West Texas crude added 58 cents, or 0.8%, to $70.90 a barrel. Global benchmark November gained 87 cents, or 1.1%, to reach $79.57 a barrel.

Walmart Inc (WMT) said that it may hike prices of products if the Trump administration imposes a tariff on Chinese imports, according to a letter the company wrote to U.S. Trade Representative Robert Lighthizer two weeks ago and seen by Reuters on Thursday.