Futures Point To Positive Start On Wall Street
(RTTNews) - Higher futures amid optimism about U.S.-China interim trade deal point to a positive start for stocks on Wall Street Thursday morning.
Reports that the two countries have agreed to cancel tariffs on each other's goods for both sides to reach a "phase one" trade deal lifted sentiment.
"The trade war started with tariffs, and should end with the cancellation of tariffs," Chinese commerce ministry spokesman Gao Feng said today, and added that the two sides have agreed to cancel tariffs as the move is vital to the phase one trade agreement.
The Dow futures were up nearly 0.5% and Nasdaq futures were higher by 0.43 percent, while S&P Futures were rising by about 0.35 percent.
Data on initial jobless claims and continuing claims for the week ended November 2 are due out at 8:30 AM ET.
Asian markets ended flat to slightly higher on Thursday as traders made cautious moves amid reports that there could be a delay in the signing of a U.S.-China trade deal.
However, a senior Trump administration official reportedly said China's latest push for more tariff rollbacks will not derail progress towards an interim deal.
European stocks were moving higher on reports the United States and China have agreed to cancel tariffs on each other's goods for both sides to reach a "phase on" trade deal.
As stocks showed a lack of direction over the course of the trading session, the major averages ended mixed on Wednesday. While the S&P 500 inched up 2.16 points or 0.1 percent to 3,076.78, the Dow edged down 0.07 points or less than a tenth of a percent to 27,492.56 and the Nasdaq dipped 24.05 points or 0.3 percent to 8,410.63.