Investing.com – Wall Street opened modestly higher on Tuesday as investor worry over a trade war eased.
The S&P 500 gained two and a half points or 0.09% to 2,719.58 as of 9:40 AM ET (13:40 GMT) while the Dow composite increased 11 points or 0.05% to 24,264.20 and tech heavy NASDAQ Composite rose over 10 points or 0.15% to 7,542.93.
White House trade adviser Peter Navarro soothed markets after he said investment restrictions against the China and other countries are not immediately forthcoming.
Wall Street plummeted on its worst day in two months on Monday amid reports that U.S. could prevent companies with at least 25% Chinese ownership from buying or investing in U.S. technology firms.
General Electric (NYSE:GE) was among the top gainers after the morning bell, surging 6.51% amid news that it was spinning-off its health care unit, while Netflix (NASDAQ:NFLX) rallied 1.44% and Apple (NASDAQ:AAPL) was up 0.27%.
Elsewhere Harley-Davidson Inc (NYSE:HOG) slumped 1.11% after U.S. President Donald Trump tweeted that the firm would “be taxed like never before” if the company built motorcycles in Europe in response to EU tariffs. Meanwhile Intel (NASDAQ:INTC) fell 1.42% while Twitter Inc (NYSE:TWTR) dipped 1.10%.
In Europe stocks were up. Germany’s DAX rose seven points or 0.06% while in France the CAC 40 increased 15 points or 0.30% and in London, the FTSE 100 was up 42 points or 0.57%. Meanwhile the pan-European Euro Stoxx 50 gained five points or 0.15% while Spain’s IBEX 35 surged 43 points or 0.45%.
In commodities, gold futures fell 0.63% to $1,260.90 a troy ounce while crude oil futures rose 0.78% to $68.61 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.26% to 94.19.