Wall Street mostly up ahead of US-China talks

NEW YORK, Aug 20 (AFP): Wall Street stocks were mostly higher early Monday on hopes that impending US-China trade talks will avert greater conflict between the two countries.

About 40 minutes into trading, the Dow Jones Industrial Average was at 25,778.83, up 0.4 per cent.

The broad-based S&P 500 rose 0.2 per cent to 2,855.42, while the tech-rich Nasdaq Composite Index shed less than 0.1 per cent to 7,813.59.

Representatives from Beijing and Washington are expected to resume trade talks this week.

The two sides have been embroiled in a tit-for-tat trade conflict all summer. Analysts have applauded the resumption of talks but caution that deep disagreements are unlikely to be quickly resolved.

SodaStream International shares surged 9.7 per cent after it agreed to be acquired for $3.2 billion by PepsiCo in the US soda and snacks giant's latest effort to diversify away from sugar-laden soft drinks among health-conscious consumers. PepsiCo gained 0.5 per cent.

Tesla Motors lost 1.4 per cent after JPMorgan Chase lowered its price target on the electric car maker, citing doubts about the company's progress on executing a plan to go private.

This week's calendar includes earnings from leading retailers including Gap and Target and the annual late-summer gathering of central bankers in Jackson Hole, Wyoming.