Left Menu
Development News Edition

Futures rises on promising signs with China trade talks, as investors await data

Futures rises on promising signs with China trade talks, as investors await data
Image Credit: Pixabay

U.S. stock index futures rose on Wednesday, driven by optimism over the ongoing U.S.-China trade talks, and as investors awaited the latest inflation data. President Donald Trump said he would be willing to let a March 1 deadline slide if the two countries were close to a deal and Treasury Secretary Steven Mnuchin said in Beijing that he hoped for "productive" meetings. "Comments from Trump gave investors plenty of cause for optimism, with the President suggesting he very much wants a deal and could let the deadline slide," Craig Erlam, senior market analyst at Oanda in London, wrote in a note.

Sentiment was also lifted by progress on a deal to avert another U.S. government shutdown, with the S&P 500 ending Tuesday above its 200-day moving average for the first time since early December. The benchmark index is now nearly 17 per cent away from its December lows, fueled by optimism on trade, a largely upbeat fourth-quarter earnings season and a dovish Federal Reserve.

At 6:33 a.m. ET, Dow e-minis were up 70 points, or 0.28 per cent. S&P 500 e-minis were up 6 points, or 0.22 per cent and Nasdaq 100 e-minis were up 29.75 points, or 0.42 per cent. Data due at 8:30 a.m. ET is expected to show that the consumer price index rose 0.1 per cent in January after recording a drop of 0.1 per cent in December.

In late-January, the Fed indicated its three-year-drive to tighten monetary policy may be at an end and said it would be "patient" before making any further moves. The fourth-quarter earnings season is in the last leg, and about 71 per cent of S&P 500 companies that have reported have beaten consensus estimates.

Analysts now estimate that first-quarter earnings will decline by 0.3 per cent, which would be the first loss since the earnings recession ended in the second quarter of 2016. Activision Blizzard Inc rose 2.5 per cent premarket after the videogame maker announced share buyback plan and job cuts. Dish Network Corp declined 6.5 per cent after the U.S. satellite TV service provider lost more-than-expected pay-TV subscribers in the fourth quarter.

(With inputs from agencies.)

Download The Devdiscourse News App for Latest News.



Future of Food: Technology fostering the road to global food security

Technological innovation can help address most of the pressing issues facing the world today including food security by enhancing productivity, improving financial services, managing resources, addressing environmental concerns, etc....

Conspiracy theories on COVID 19: Legislators, Scientists, and Journalists all joined the Caravan

Conspiracy theories are not new for virus epidemics. There have been conspiracy theories on HIV-AIDS, Polio Vaccines, Ebola Virus, and several other diseases as well. However, what makes the 2019 Novel Coronavirus different from others is ...

Now it’s a war, Uganda deploys army to combat locust swarms

Its for the first time after 1986, the locust swarms have attacked Uganda twice in a season. With the increasing number of countries of Africa under attack by locust swarms, the problem seems to have taken a regional paradigm. Its very diff...

Top 10 Fake News, Myths and Realities on 2019 Novel Coronavirus COVID 19

With nearly 1500 deaths by January 14 and around 65,000 infections in China, the Novel Coronavirus 2019 has become one of the worst health epidemics of the 21st Century. However, 8,573 people have been cured but the rumor mongers are a...


Latest News

India at cusp of becoming premier digital society; to be among 3 top world economies: Ambani

With mobile networks better or at par with anywhere else in the world, India has an opportunity to become a premier digital society, billionaire Mukesh Ambani said on Monday as he saw the country becoming the third worlds largest economy wi...

Coronavirus-hit China postpones annual Parliament session for 1st time in decades: state media

In an unprecedented move, China on Monday decided to postpone the annual session of Parliament due to coronavirus, state media reported as the country grapples with the deadly virus that has claimed over 2,500 lives. The ruling Communist Pa...

First anniversary of National War Memorial to be observed on 25 Feb

The first anniversary of the iconic National War Memorial NWM will be observed tomorrow. The monument was dedicated to the nation by Prime Minister Shri Narendra Modi on February 25, 2019. The memorial is a fitting tribute by the grateful n...

Trump's visit was short and sweet, says Sabarmati Ashram director

US President Donald Trumps visit to Sabarmati Ashram was short and sweet, said director of the Ashram Atul Pandya on Monday. Pandya said Trump and First Lady Melania Trump were interested in knowing about the culture of India. During their ...

Give Feedback