Stocks Opened Higher on Trade Optimism

U.S. stocks opened higher on Tuesday as ongoing optimism in U.S.-China trade talks kept investors piling into risk assets. The Dow Jones Industrial Average lately rose 36.57 points, or 0.13%, to 27,498.68. The S&P 500 was up 0.90 point, or 0.03%, to 3,079.17. The Nasdaq Composite advanced 5.71 points, or 0.07%, to 8,438.92.

Oil futures rose Tuesday, finding a boost from positive expectations around U.S.-China trade talks. West Texas Intermediate crude for December delivery rose 39 cents, or 0.7%, to $56.93 a barrel. January Brent crude gained 50 cents, or 0.8%, to trade at $62.63 a barrel.

In a speech Tuesday, China’s President Xi Jinping reaffirmed his commitment to opening up the country’s economy and increasing imports, underscoring the potential for friendlier trade relations with the U.S.

The nation’s trade deficit fell almost 5% in September to a five-month low, aided by the first surplus in petroleum since at least 1978 and a decline in imports from Germany and China.The deficit slid to $52.5 billion from a revised $55 billion in August, the government said Tuesday.