Stocks Opened Higher amid Positive Trade Reports

U.S. stocks opened higher on Wednesday, amid positive reports for a U.S.-China trade deal and growth in eurozone economies. The Dow Jones Industrial Average lately rose 11.62 points, or 0.04%, to 26,190.75. The S&P 500 gained 9.58 points, or 0.33%, to 2,876.82. The Nasdaq Composite added 47.27 points, or 0.60%, to 7,895.96.

Oil futures prices held near roughly five-month highs in subdued Wednesday action, as traders attempted to extend this latest win streak to four sessions. West Texas Intermediate crude for May delivery was up 2 cents, or less than 0.1%, at $62.61 a barrel. June Brent crude was up 24 cents, or 0.4%, at $69.61 a barrel.

“Ninety percent of the deal is done, but the last 10% is the hardest part, it’s the trickiest part and it will require trade-offs on both sides,” said Myron Brilliant, executive vice president for international affairs at the U.S. Chamber of Commerce, adding that talks are in the “endgame stage,” according to the Financial Times.

Several major eurozone economies also saw recent growth in their services sectors, based on recent results. IHS Markit reported that services business activity in Germany grew in March at the fastest pace in six months as demand and customer numbers rose. In Italy, service sector business activity expanded in March at the quickest rate since September amid surging new order growth and faster job creation.

U.S. private employers added 129,000 jobs in March, below economists’ expectations and the lowest since September 2017, a report by a payrolls processor showed on Wednesday.

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