Traders work on the floor of New York Stock Exchange in New York, the United States, April 9, 2018. U.S. stocks opened higher on Monday after the U.S. President Donald Trump appeared to soften his tone on China-U.S. trade relations. (Xinhua/Wang Ying)
NEW YORK, April 9 (Xinhua) -- U.S. stocks opened higher on Monday after the U.S. President Donald Trump appeared to soften his tone on China-U.S. trade relations.
Shortly after the opening bell, the Dow Jones Industrial Average gained 196.67 points, or 0.82 percent, to 24,129.43. The S&P 500 added 16 points, or 0.61 percent, to 2,620.47. The Nasdaq Composite Index was up 59.58 points, or 0.86 percent, to 6,974.69.
U.S. Treasury Secretary Steven Mnuchin said on Sunday he does not expect a trade war between the United States and China to take place, according to media reports.
Analysts said the upbeat comments from the Trump administration helped lift market sentiment on Monday.
Investors have been on edge for some time amid escalating trade tensions between China and the United States.
Trump said Thursday he had asked the U.S. Trade Representative to consider slapping additional tariffs on 100 billion U.S. dollars' worth of Chinese imports, ratcheting up trade tensions and plunging economic growth into uncertainty.
In response, a spokesperson with the Chinese Ministry of Commerce said Friday that China will fight "at any cost" and take "comprehensive countermeasures" if the United States continues its unilateral, protectionist practices.
The moves came after both sides unveiled earlier a list of products worth 50 billion U.S. dollars imported from the other that will be subjected to higher tariffs.
U.S. stocks closed sharply lower in the previous session, with the Dow plunging 2.34 percent, the S&P 500 erasing 2.19 percent and the Nasdaq losing 2.28 percent.
