Stocks- Wall Street Higher as U.S. Softens Foreign Investment Stance

Wall Street opened modestly higher on Wednesday amid news that the White House administration would take a less harsh approach to foreign investment restrictions. The S&P 500 gained eight points or 0.30% to 2,731.28 as of 9:45 AM ET (13:45 GMT) while the Dow composite increased 74 points or 0.31% to 24,357.66 and tech heavy NASDAQ Composite rose over 21 points or 0.29% to 7,583.57. The U.S. will use the Committee on Foreign Investment in the United States (CFIUS) to protect domestic technology, according to a senior administration official and won’t invoke a national emergency law on China. Technology stocks were among the biggest gainers after the morning bell, with Netflix (NASDAQ:NFLX) rising 2.58%, Amazon.com (NASDAQ:AMZN) up 0.75% and Apple (NASDAQ:AAPL) rising 0.80%. Twitter jumped 2.28% while Facebook (NASDAQ:FB) inched up 0.34%.