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Home / World / Stocks rise at the open on US-China trade optimism

Stocks rise at the open on US-China trade optimism



  Dealers and financial professionals work on the floor of the New York Stock Exchange (NYSE) before the opening bell on January 4, 2019 in New York City.

Drew Angerer | Getty Images

Dealers and financial professionals work on the floor of the New York Stock Exchange (NYSE) before the opening bell on January 4, 2019 in New York City.

U.S. and Chinese officials will continue commercial talks this week focusing on intellectual property. "The United States is a major producer of technology, innovation, know-how and trade secrets and we must operate in an environment where these things are protected," said US trade representative Robert Lighthizer last week.

"[We] expect a trade agreement between the United States and China by the end of this month," wrote Ed Yardeni, president and chief investment strategist at Yardeni Research. "The Chinese need a deal to appease Trump's demands for fairer trade so that it does not impose another round of duties on US imports from China."

Trade negotiations come in the middle of a slowdown in economic data outside China. Spending on the growth of the Chinese lunar new year has fallen to its lowest level since 2005. Last month, the Chinese government revealed that the country's economy has grown at its slower pace in 28 years.

There is also a growing focus on a potential second government block, given that Democrats and Republicans remain in disagreement over border policy. Trump tweeted this weekend "I really think they (Democrats) want to shut down."

Tesla shares gained more than 2% after a Canaccord Genuity analyst upgraded them to buy from hold. The analyst also raised his price target to $ 450 per share from $ 330, implying a 47 percent rise over the next 12 months.

-CNBC
Silvia Amaro
contributed to this relationship.


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