Wall Street opens higher as China shores up its economy ahead of trade talks with the US

NEW YORK AP Stocks are opening higher on Wall Street as China strategies up measures to shore up its market system and agrees to agreement talks with the U S The S P index rose in early trading Wednesday The Dow Jones Industrial Average rose points or and the Nasdaq composite rose The Walt Disney Co soared after easilily beating analysts profit targets raising its profit forecast and adding more than a million streaming subscribers Super Micro Computer sank after reporting results that fell short of forecasts The Federal Reserve announces its latest decision on interest rates later in the day THIS IS A CURRENT NEWS UPDATE AP s earlier story follows below Wall Street is poised to open with gains as the Federal Reserve wraps up a two-day plan meeting where it will almost certainly leave interest rates unchanged despite pleas from President Donald Trump for a rate cut as he pursues a worldwide transaction war Futures for the S P and the Nasdaq composite rose before the bell Wednesday Futures for the Dow Jones Industrial Average rose Walt Disney Co jumped more than in premarket after the entertainment behemoth easily beat Wall Street s profit targets for the second quarter Disney s revenue rose from the same quarter a year ago as it added another million Disney and Hulu subscribers Disney s results come just days after Trump accused other countries of stealing the movie-making capabilities of the U S and explained that he had authorized governing body agencies to right now begin the process of implementing this new import tax on all foreign-made films Video meeting company Electronic Arts climbed more than after it disclosed preliminary results for its greater part newest quarter which also easily beat analysts sales and profit targets Specific companies say they re already seeing impacts to their business from the uncertainty created by tariffs causing them to revise or pull their guidance Certain have even offered two sets of forecasts one contingent on tariffs and one without the additional costs factored in Chair Jerome Powell and other Fed bureaucrats have signaled that they want to see how the duties including on all imports from China impact consumer prices and the financial system Uncertainty around tariffs has also made U S households more pessimistic about the economic system and could affect their long-term plans for purchases That anxiety has helped fuel a surge in imports ahead of potentially more severe tariffs ahead The U S business deficit soared to a record billion in March as consumers and businesses alike tried to get ahead of tariffs that went into effect in April and others that have been postponed until July Last week the authorities communicated the U S economic system shrank at a annual pace during the first quarter of the year because of a surge in imports At midday in Europe Germany s DAX was virtually unchanged while the CAC in Paris slipped and Britain s FTSE shed In Asia shares advanced after the U S and China explained they plan to hold agreement talks in Switzerland later this week Hong Kong s benchmark briefly jumped more than after administrators in Beijing rolled out interest rate cuts and other moves to help encouragement the Chinese market system and markets as higher tariffs ordered by Trump hit the country s exports But the markets reaction to both developments was relatively restrained Tokyo s Nikkei edged lower to The Hang Seng in Hong Kong gained only by the end of trading closing at The Shanghai Composite index rose to The agreement talks may account for the decision to announce the economic rescue package Lynne Song of ING Economics stated in a assessment This way the easing won t be seen as a knee-jerk reaction to tariffs Policymakers are likely now privy to selected of the early details on how the financial market is being impacted by the tariff shock Song announced But analysts noted the muted response to the policies communicated Wednesday also may reflect disappointment over the lack of major governing body spending increases that countless economists say may be needed to wrest the Chinese commercial sector out of its doldrums These will help to shore up expansion at the margin But any boost to credit demand will be modest and in contemporary times s moves are no substitute for an expansion in fiscal promotion Julian Evans-Pritchard of Capital Economics explained in a assessment Australia s S P ASX picked up to while the Kospi in South Korea gained to U S benchmark crude oil gained cents to per barrel Brent crude the international standard gained cents to per barrel The dollar rose to Japanese yen from yen The euro ticked down to from