US futures point to higher open as US-China trade talks resume

12-Oct-2019 Intellasia | CNBC | 6:02 AM Print This Post

US stock index futures were higher Friday morning, after President Donald Trump characterised the first day of trade talks with China as “very, very good.”

At around 02:15 a.m. ET, Dow futures rose 95 points, indicating a positive open of more than 129 points. Futures on the S&P and Nasdaq were both slightly higher.

High-level negotiators from the US and China resumed trade talks in Washington on Thursday, following a week of rising tensions between the world’s two largest economies.

Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthiser helmed the team of American negotiators during Thursday’s discussions. Chinese vice Premier Liu He led the delegation from Beijing.

Trump gave an optimistic read of the day’s discussions, stirring hopes among investors that both sides could come to some form of an agreement.

However, if no progress is made in bilateral trade negotiations this week, Trump has said tariffs on Chinese imports will increase on October 15.

On the data front, import prices for September will be released at around 8:30 a.m. ET, with consumer sentiment figures for October set to follow slightly later in the session.

In corporate news, Fastenal and Infosys will both release their latest quarterly earnings before the opening bell.


Category: China

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