Stocks Opened Higher, Oil Prices Rose

U.S. stocks opened higher on Friday, as U.S. Treasury yields recovered from multiyear low and investors track U.S.-China trade negotiations. The Dow Jones Industrial Average lately gained 207.94 points, or 0.81%, to 25,787.33. The S&P 500 climbed 26.67 points, or 0.94%, to 2,874.27. The Nasdaq Composite advanced 82.54 points, or 0.06%, to 7,849.15.

Oil futures rose Friday, after OPEC lowered its outlook for crude-demand growth due to a global economic slowdown. West Texas Intermediate crude for September delivery rose 22 cents, or 0.4%, to $54.69 a barrel. October Brent crude was up 39 cents, or 0.7%, at $58.62 a barrel.

U.S. new-home construction unexpectedly fell in July for a third month on another drop in starts of apartment buildings that masked a gain in single-family units. Residential starts dropped 4% to a 1.19 million annualized rate after a downwardly revised 1.24 million pace in the prior month, according to government figures released Friday.