Stocks Opened Mostly Higher amid Trade War De-escalation

U.S. stocks opened mostly higher on Friday amid further signs of de-escalation in the U.S.-China trade war. The Dow Jones Industrial Average lately rose 72.86 points, or 0.27%, to 27,255.31. The S&P 500 advanced 4.14 points, or 0.14%, to 3,013.71. The Nasdaq Composite fell 6.21 points, or 0.08%, to 8,188.26.

Oil futures inched higher Friday. West Texas Intermediate crude for October delivery picked up 32 cents, or 0.6%, to $55.41 a barrel. November Brent crude gained 24 cents, or 0.4%, to $60.60 a barrel.

The Chinese government is encouraging companies to buy “a certain amount” of U.S. farm products including pork and soybeans and will exempt these goods from additional tariffs, China’s official Xinhua News Agency said Friday.

U.S. retail sales got a big boost in August from purchases of new autos and building supplies. Retail sales rose 0.4% last month, the government said Friday, but sales were flat excluding new cars and trucks.

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