U.S. stock futures jump after Trump-Xi trade armistice By Reuters

0
1
© Reuters. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City


© Reuters. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City

NEW YORK (Reuters) – U.S. stock index futures jumped on Sunday, suggesting Wall Street was set rise further after its biggest weekly gain last week in nearly seven years as China and the United States agreed to shelve any new tariffs and reset discussions.

S&P 500 e-mini futures () were up 1.6 percent on high contract volume after trading resumed for the week at 6 p.m. (2300 GMT). Dow Jones Industrial Average e-mini futures () rose 1.8 percent, while Nasdaq 100 e-mini futures () jumped nearly 2 percent.

After getting clobbered for much of the past two months, U.S. stocks rallied last week on optimism that a detente could be reached between U.S. President Donald Trump and his Chinese counterpart, Xi Jinping, over trade between the world’s top two economies.

The outcome of the meeting between the two leaders in Buenos Aires on the sidelines of the G20 summit over the weekend appeared to set the stage for further gains. The two agreed to de-escalate tensions over trade that have dogged U.S. and global markets off and on throughout the year.

A U.S. pledge not to boost tariffs on $200 billion of Chinese goods could mark the most important deal in years between the two countries.

For the full week ended Friday, the S&P 500 Index () gained nearly 5 percent and the Index <.ixic> loaded with tech companies that had been buffeted by costs associated with tariffs imposed by Trump on Chinese imports, gained more than 5.6 percent.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here