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Dow jumps 180 points at the open, set for 7th straight gain amid talk of China economic stimulus

Mark DeCambre

U.S. stocks benchmarks Tuesday morning opened firmly higher, adding to a multisession run that has been partially supported on the day by reports of China planning fresh stimulus to spur its economy. The Dow Jones Industrial Average rose 176 points, or 0.7%, at 26,240, set for its seventh consecutive gain. Meanwhile, the S&P 500 index advanced 0.9% at 2,911, while the Nasdaq Composite Index climbed 1.1% at 7,909. Both the S&P 500 and Nasdaq are set for their sixth straight gain. The market has been rebounding as investors have hoped for easing of trade tensions between the U.S. and China and the Federal Reserve has signaled at least a willingness to consider easing monetary policy to help to sustain economic expansion. A decision by the Trump administration to halt tariffs on Mexico which had been planned for Monday also helped drive equity markets higher to start the week. On the economic front, the producer-price index, advanced a seasonally adjusted 0.1% in May from a month earlier, according to Labor Department. In corporate news, shares of Shutterfly Inc. were gaining, after reports that Apollo Global Management LLC would acquire the photo-sharing company.