Stocks Opened Higher on U.S.-China Trade Deal Optimism

U.S. stocks opened higher on Friday, as U.S.-China trade deal optimism continued to buoy stock markets. The Dow Jones Industrial Average lately rose 88.15 points, or 0.34%, to 25,805.61. The S&P 500 added 10.03 points, or 0.36%, to 2,825.47. The Nasdaq Composite gained 35.44 points, or 0.46%, to 7,704.61.

Oil prices climbed early Friday, amid global efforts to keep crude supply in check. West Texas Intermediate crude for May delivery was up 89 cents, or 1.5%, at $60.18 a barrel. May Brent crude rose 93 cents, or 1.4%, to $68.75 a barrel.

The U.S. and China made progress “during candid and constructive discussions” on trade in Beijing this week, said a statement from the White House on Friday.

Investors are closely monitoring Lyft (LYFT)’s performance as shares of the No. 2 ride-hailing company in the U.S. begin trading on Friday. Shares are expected to start trading around 10:45 a.m. ET, according to the Nasdaq.