Dow set to climb more than 100 points on US-China trade deal hopes

U.S. stock index futures traded slightly higher on Friday morning, as investors monitored progress in U.S.-China trade talks and reacted to the latest Brexit developments.

At around 7 a.m. ET, Dow futures pointed to a higher open of more than 100 points. Futures for the S&P 500 and Nasdaq were also seen opening higher.

Market focus is largely attuned to global trade developments, as sentiment improved on a report that more progress has been made in talks between the world’s two largest economies.

Chinese Vice Premier Liu He spoke via telephone with U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer, Xinhua news agency reported Friday.

It comes after Mnuchin said on Thursday that a summit to secure a comprehensive trade agreement between President Donald Trump and Chinese counterpart Xi Jinping would not happen at the end of March as previously discussed.


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Meanwhile, Trump said Thursday that the U.S. would probably know in the next three or four weeks about a possible trade deal with China.

In Europe, U.K. lawmakers voted on Thursday to seek a delay in Britain’s exit from the EU. It marked the end to a dramatic trilogy of events this week which have added yet more confusion into the whole Brexit process. British Prime Minister Theresa May is preparing once more to try and win approval for her twice-rejected Brexit deal.

Back in the U.S., investors will closely monitor a slew of economic data on Friday. Empire State manufacturing numbers are due at 08:30 a.m. ET, followed by industrial production numbers at 09:15 a.m. ET and consumer sentiment data at 10 a.m. ET.

No major earnings are scheduled for Friday.

Source: cnbc.com | Original Link

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