Stocks Jumped at Open on Trade-talk Optimism

U.S. stocks opened sharply higher on Wednesday, as a slew of reports pointed to a softening of trade tensions. The Dow Jones Industrial Average lately jumped 250.07 points, or 1.03%, to 24,620.31. The S&P 500 rose 26.69 points, or 1.01%, to 2,663.47. The Nasdaq Composite advanced 89.78 points, or 1.28%, to 7,121.61.

Oil prices gained Wednesday as signs of a decline in U.S. crude inventories offset mixed signals on supplies from the globe’s major producers. West Texas Intermediate crude for January delivery gained 92 cents, or 1.7%, to $52.58 a barrel. February Brent crude advanced 95 cents, or 1.6%, at $61.15 a barrel.

U.S. consumer prices were unchanged in November, held back by a sharp decline in the price of gasoline, but underlying inflation pressures remained firm amid rising rents and healthcare costs.