Stocks Traded Slightly Higher at Open

U.S. stocks opened slightly higher on Tuesday, as investors attempted to look past the intensifying U.S.-China trade battle. The Dow industrial Average lately rose 80.31 points, or 0.31%, to 26,142.43. The S&P 500 rose 8.98 points, or 0.31%, to 2,897.78. The Nasdaq Composite gained 47.34 points, or 0.60%, to 7,943.13.

Oil futures traded higher early Tuesday in New York, buoyed by recent remarks from Saudi Arabian officials that reportedly expressed a renewed level of comfort with higher prices in light of renewed U.S. sanctions on Iran that could disrupt global output. West Texas Intermediate crude futures for October delivery rose 97 cents, or 1.4%, to reach $69.88 a barrel. November Brent climbed $1.16, or 1.5%, to $79.21 a barrel.

The Trump administration will impose tariffs on $200 billion more in Chinese goods starting next week, escalating a trade war between the world’s two biggest economies and potentially raising prices on goods ranging from handbags to bicycle tires.