Stocks open sharply higher on trade and stimulus hopes

U.S. stocks opened higher, putting key equity benchmarks on course for a third straight positive session, after reports that Germany was open to the use of deficit spending in the event of a recession. President Donald Trump's remarks that the U.S economy was doing well also helped to draw investors into risky assets. The S&P 500 rose 1% to 2,918. The Dow Jones Industrial Average advanced 323 points, or 1.2%, to around 26,209. The Nasdaq Composite was up 1.4% to 8,010. In company news, shares of Estee Lauder Cos (EL). (EL) climbed 10% on Monday after its earnings beat expectations and the skincare company issued upbeat guidance.

-Sunny Oh; 415-439-6400; AskNewswires@dowjones.com


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  08-19-19 0938ET
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