Stocks tick higher at open despite trade tensions
U.S. stocks opened slightly higher on Tuesday, starting off the holiday-shortened week, even as President Donald Trump's remarks suggesting uncertainty over a U.S.-China trade deal appeared to cap gains in risk assets. The S&P 500 was up 0.1% to around 2,829. Dow Jones Industrial Average picked up 47 points ,or 0.2%, to 25,663. The Nasdaq Composite rose 0.3% to around 7,661. Trump said the U.S. wasn't ready to make a deal with China on Monday, and that tariffs on Chinese goods could go up "very substantially." Trade tensions between Washington and Beijing have risen after both sides fired a broadside of tariffs against each other, with the U.S.'s retaliatory measures threatening to envelop the Chinese technology sector. Shares of Alibaba Group Holding Ltd. rose 1.1% on Tuesday, following reports that the Chinese conglomerate is planning to raise as much as $20 billion through a second public listing in Hong Kong.
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