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Stocks- Wall Street Increases as Trade Tensions Ease

Wall Street opened higher on Thursday.
Wall Street opened higher on Thursday.

Investing.com – Wall Street was higher on Thursday as investors look ahead to meeting minutes from the Federal Reserve and trade tensions eased.

The S&P 500 gained 13 points or 0.50% to 2,726.86 as of 9:41 AM ET (13:41 GMT) while the Dow composite increased 126 points or 0.52% to 24,301.00 and tech heavy NASDAQ Composite was up 52 points or 0.70% to 7,555.42.

Investors are looking ahead to the minutes from the Federal Reserve’s meeting in June, which is expected at 2:00 PM ET (18:00 GMT). The central bank increased interest rates at its last meeting and signalled two more possible rate hikes by the end of the year. Traders will look closely for details on rate increases and the state of the U.S. economy.

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Meanwhile trade worry eased after reports that the U.S. could offer the European Union a zero tariffs solution.

On the data front, U.S. private payrolls missed expectations while weekly jobless claims rose more than expected, but did little to diminish expectations of full employment in the labor market.

Automobile maker Fiat Chrysler Automobiles NV (NYSE:FCAU) was among the top gainers after the morning bell, surging 6.63% while Facebook (NASDAQ:FB) increased 1.21% and Apple (NASDAQ:AAPL) gained 1.30%. General Motors (NYSE:GM) was up 1.92% and Boeing (NYSE:BA) inched up 0.90%.

Elsewhere Tesla (NASDAQ:TSLA) dipped 0.07% while General Electric (NYSE:GE) slumped 1.30% after news that its Latin American head was arrested as part of a corruption probe in Brazil.

In Europe stocks were up. Germany’s DAX rose 128 points or 1.04% while in France the CAC 40 increased 45 points or 0.86% and in London, the FTSE 100 was up 38 points or 0.51%. Meanwhile the pan-European Euro Stoxx 50 gained 29 points or 0.87% while Spain’s IBEX 35 surged 117 points or 1.21%.

In commodities, gold futures rose 0.22% to $1,256.30 a troy ounce while crude oil futures decreased 0.42% to $73.83 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, inched down 0.11% to 94.09.

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