U.S. stocks opened higher on Friday. U.S. trade deficit unexpectedly narrowed in October, exports more than two-year high, the trade deficit with China also declined.
At 09:33 on 10 December EDT, the Dow Jones industrial average rose 20.51 points to 11,390.57 points, or 0.18%; the Nasdaq composite index rose 3.96 points to 2,620.63 points, or 0.15%; the S & P 500 Index rose 2.75 points to 1,235.75 points, or 0.22%.
Commerce Department reported Friday, the United States in October the deficit in international trade of products and services over the previous month decreased by 13% or more, from 44.6 to 38.71 billion U.S. dollars. September trade deficit data in the initial forecast of 440 billion U.S. dollars.
U.S. trade deficit with China fell by 8.3%, to 25.52 billion U.S. dollars, exports to China surged 29.8%, to 93 billion U.S. dollars, a record high. Imports declined slightly to 34.82 billion U.S. dollars.
Separate data showed U.S. import prices in November rose a strong second consecutive month, easing fears of deflation people. The Labor Department reported Friday, the U.S. imports price index on a monthly increase of 1.3%, economists had expected a growth of 0.8%.
The People's Bank of China said on Friday, due to increased inflationary pressures, will raise bank reserve ratio by 0.5 percentage points, this is the 6th year of the central bank to raise reserve ratio. The latest data from China show that China's exports and imports in November were up at a record high, but the trade surplus from the 27.15 billion U.S. dollars in October fell to 229 million, slightly higher than economists expected the 223 billion range in value.
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