Wall Street hopes rise over US-China trade breakthrough
U.S. stock index futures were slightly higher Thursday morning, amid signs of thawing trade tensions between the world’s two largest economies.
At around 3:40 a.m. ET, Dow futures rose 70 points, indicating a positive open of more than 94 points. Futures on the S&P 500 and Nasdaq were also seen relatively upbeat.
Market participants are gradually becoming more optimistic about the prospect of the U.S. and China reaching a comprehensive trade agreement. It follows a flurry of news this week pointing to cooling tensions between the two global powers.
On Wednesday, Reuters reported Chinese state-owned companies had bought more than 1.5 million tons of U.S. soybeans. It was the first major U.S. soybean purchases in more than six months, and the clearest sign to date that China plans to step up efforts to support its slowing economy.
U.S. stocks finished higher on Wednesday, buoyed by the perceived progress in trade talks between Washington and Beijing.
On the data front, investors are likely to closely monitor the latest jobless claims figures at around 8:30 a.m. ET, with import prices for November scheduled to be released at the same time.
In corporate news, Adobe and Costco are both expected to publish their latest quarterly earnings after Thursday’s closing bell.