Wall Street opening slightly higher; Home Depot up 4%

BEIJING — Stocks are opening slightly higher on Wall Street today led by gains in the consumer discretionary sector.

Home Depot is leading the S&P 500 gainers after the hardware chain’s sales continued to surge last quarter in a hot housing market.

New data also showed Americans sharply boosted their spending last month, pushing up retail sales and giving the economy a lift.

The S&P 500 and the Dow Jones Industrial Average are up 0.3% in early trading, and the Nasdaq composite rose 0.2%.

Global stock markets are mixed after President Joe Biden and China’s Xi Jinping held a summit meeting by video link.

Tokyo, Hong Kong and Frankfurt advanced, while Shanghai declined. London was little-changed.

Biden and Xi announced no agreements after their meeting but said their governments need to tread carefully amid tension over trade, Taiwan and other irritants.

Biden told Xi their goal should be to ensure competition “does not veer into conflict.” Xi said he was ready to “build consensus” and said the two sides need to improve communication.