Stocks Opened Higher on Rising Trade Optimism

U.S. stocks advanced modestly at open on Friday, as investors continue to monitor noises around U.S.-China trade talks and track developments around a whistleblower complaint against President Donald Trump. The Dow Jones Industrial Average lately rose 69.12 points, or 0.26%, to 26,960.24. The S&P 500 gained 3.65 points, or 0.12%, to 2,981.27. The Nasdaq Composite was down 7.20 points, or 0.09%, to 8,023.46.

Oil futures extended a decline after Iranian President Hassan Rouhani said the U.S. offered to remove all sanctions on the country in exchange for talks. West Texas Intermediate crude for November delivery remained down $1.01, or 1.8%, at $55.40 a barrel, while November Brent crude was off $1, or 1.6%, at $60.74 a barrel.

The U.S. economy cooled in August as Americans spent less than projected and companies cut capital-equipment orders. Consumer spending on goods and services, which accounts for about two-thirds of gross domestic product, increased 0.1% from July, the smallest gain in six months, Commerce Department data showed Friday.