International Development News
Development News Edition

US stock index futures uplifted by fresh trade talks


US stock index futures uplifted by fresh trade talks
The S&P 500 ended last week flat, largely due to the trade uncertainty and worries of a global economic slowdown.

U.S. stock index futures rose on Monday as the latest trade talks between the United States and China began in Beijing, while U.S. lawmakers attempted to hammer out a deal to avoid another government shutdown.

China struck an upbeat note on the talks and the Shanghai exchange rose 1 per cent after a week-long Lunar New Year holiday, but a U.S. Navy mission through the disputed South China Sea weighed on sentiment. The latest discussions come against the backdrop of last month's negotiations ending without a deal and the top U.S. negotiator declaring that a lot more work needed to be done.

The S&P 500 ended last week flat, largely due to the trade uncertainty and worries of a global economic slowdown. Still, the benchmark index is about 15 per cent above its December lows, helped in part by a dovish Federal Reserve and largely upbeat earnings reports.

The fourth-quarter earnings season has entered its home stretch, with 71.5 per cent of the S&P 500 companies that have reported results topping profit estimates, according to IBES data from Refinitiv. But analysts' estimates for first-quarter earnings for S&P companies have turned negative. They expect a decline of 0.1 per cent from a year earlier, which would be the first quarterly profit fall for the group since 2016.

Among a clutch of major U.S. companies reporting this week include Coca-Cola Co, PepsiCo Inc and Nvidia Corp. At 6:45 a.m. ET, Dow e-minis were up 64 points, or 0.26 per cent. S&P 500 e-minis was up 6.75 points, or 0.25 per cent and Nasdaq 100 e-minis were up 24 points, or 0.35 per cent.

Talks on border security funding collapsed on Sunday after Democratic and Republican lawmakers clashed over immigrant detention policy, but a special negotiating panel is aiming to come to a deal by Monday. Tesla Inc rose 2.7 per cent premarket after brokerage Canaccord Genuity upgraded the stock, calling its electric vehicle penetration "underappreciated".

Electronics Arts Inc gained 2.2 per cent after Jefferies raised its price target on the shares of the video-game publisher after it signed up 10 million players within three days of the launch of a new game.

(With inputs from agencies.)


TRENDING

OPINION/BLOG/INTERVIEW

'No escape from telephones', this 1953 prediction actually comes true

In 1953, a telephone company chief predicted that therell be no escape from telephones in the future....

With Ayodhya verdict, CJI starts clearing high profile pending cases

Ending all the speculations, the Chief Justice of India Mr. Ranjan Gogoi who is due to retire on November 17 decided to deliver the verdict in Ayodya dispute at 10.30 am on Saturday which is not a working day for the Supreme Court. This is ...

How partnerships and collaborations could enhance teacher training

Monica Malhotra Kandhari, Managing Director, MBD Group shares her views on public private partnership and collaborations in education sector. She supports her propositions with her organisations success stories....

Fixed Test centers would facelift level of WTC in India

The venues for the test matches in India should be fixed so that World Test Championship matches remain fair....

Videos

Latest News

'I think I got shot': California students huddled terrified in barricaded classrooms

The students inside a barricaded choir classroom were huddled in the dark minutes after shots rang out at Saugus High School in Southern California on Thursday, when one them said I think I got shot.Katie Holt, a fine arts teacher, had push...

UK's Labour vows free broadband for all by renationalising some of BT

Britains opposition Labour Party said it would unveil plans on Friday to provide free full-fibre broadband across the country by creating a British Broadband public service, formed by bringing parts of telecoms provider BT into state owners...

UPDATE 2-Tennis-Djokovic's hopes crushed as Federer serves up a masterclass

Roger Federer lit up the O2 Arena with a dazzling 6-4 6-3 defeat of Novak Djokovic to hand the Serb an early ATP Finals exit and wreck his bid to end the year ranked number one on Thursday. In the 49th meeting between the two great rivals, ...

UPDATE 5-Pelosi says Trump has admitted to bribery as impeachment probe intensifies

House of Representatives Speaker Nancy Pelosi said on Thursday President Donald Trump already has admitted to bribery in the Ukraine scandal at the heart of a Democratic-led inquiry, accusing him of an impeachable offense under the U.S. Con...

Give Feedback