Press "Enter" to skip to content

Dow Futures Surge Over 150 Points After Announcement of US-China Trade Negotiations

U.S. stock index futures went up Thursday morning after China confirmed it planned to hold trade negotiations with the U.S. in early October.

At 03:20 am ET, Dow futures advanced 160 points, indicating a positive open of over 168 points. Futures on the S&P and Nasdaq were also higher.

China’s Commerce Ministry issued a statement Thursday morning saying that Liu He, Beijing’s prime mediator on trade, had spoken with U.S. Trade Executive Robert Lighthizer and Treasury Secretary Steven Mnuchin.

Both sides agreed to hold one more round of trade talks in Washington, D.C., towards the start of next month, and consultations will be made in mid-September in preparation for the meeting, the statement read.

The declaration came after the world’s two most prominent economies levied new tariffs on each other’s products at the start of the month, marking yet another escalation in the protracted trade conflict.

Previously, both sides had indicated they might meet in September.

On the data front, traders are prone to monitor a flurry of economic reports Thursday closely.

The ADP National Employment Report for August will be posted at 8:15 a.m. ET, with the most recent weekly jobless claims and second-quarter productivity and unit labor costs set to be posted slightly later in the session.

A final reading of services Purchasing Managing Index ISM non-manufacturing data for August and factory orders for July will also be posted during the morning session.

In corporate news, Donaldson, Ciena and Livongo Health are among a few of the companies set to report earnings before the opening bell.

CrowdStrike, DocuSign and Lululemon Athletica are among a number of the corporations scheduled to report their most recent quarterly outcomes after market close.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *