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6/8, 3:32 PM (Source: TeleTrader)
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Wall Street opens mostly higher with tech shares in lead

United States major equity markets opened mostly higher on Tuesday with technology companies' stocks in the lead as investors anticipate a jobs opening report to be released later in the day. US goods and services trade deficit was 8.2% lower in April compared to the month before, reaching $69.9 billion. Meanwhile, the US government said it established a task force to fight "unfair foreign trade practices" and strengthen international trade rules.

Commerce Secretary Gina Raimondo shared that she expects chip shortages to last through 2023, affecting tech manufacturing, automakers, and other industries. Nevertheless, Tesla sold 29% more vehicles in China in May than in the previous month, despite earlier reports that the company's net orders fell by 50%.

The Dow Jones opened flat having 0.01% in the red as Walgreens fell by 1.59%, while S&P 500 climbed 0.18% with Generac Holdings gaining 3.82%. The Nasdaq 100 grew by 0.49% led by Marvell Technology jumping 6.61%. The euro lost 0.07% against the dollar to trade for $1.21801 at 9:27 am ET.

Breaking the News / LH