Stock futures point to higher start for Wall Street on continued optimism over trade deal

Stock-index futures traded higher on Wednesday, which could mean gains for Wall Street after more encouraging headlines regarding U.S.-China trade talks.

What are major indexes doing?

Dow Jones Industrial Average futures YMM9, +0.46%  rose 120 points, or 0.5%, to 26,273, while S&P 500 futures ESM9, +0.56%  gained 16.40 points, or 0.6%, to 2,883.25, while Nasdaq-100 futures NQM9, +0.63% added 48 points, or 0.6%, to 7,567.25.  DJIA, -0.30%

On Tuesday, the Dow Jones Industrial Average DJIA, -0.30% fell 79.29 points, or 0.3%, to 26,179.13. The S&P 500 index SPX, +0.00% rose 0.05 point to 2,867.24, while the Nasdaq Composite Index COMP, +0.25% rose 19.78 points, roughly 0.3%, to 7,832.

Tuesday’s session left the S&P 500 just 2.2% below its all-time close of 2,930.75 hit on Sept. 20.

What’s driving the market?

Global equities were higher, with the Shanghai Composite SHCOMP, +1.24%  up 1.2% after a report over progress with trade talks between the U.S. and China. “Ninety percent of the deal is done, but the last 10% is the hardest part, it’s the trickiest part and it will require trade-offs on both sides,” said Myron Brilliant, executive vice president for international affairs at the U.S. Chamber of Commerce, adding that talks are in the “endgame stage,” according to the Financial Times.

High-level talks that began in Beijing last week are continuing this week in Washington.

Meanwhile, the Caixin China services purchasing managers index, which gauges the country’s private sector, rose to a 14-month high in March. Upbeat data from China at the start of the week helped drive strong gains for U.S. stocks on Monday, amid relief that the global growth picture was not as bad as some originally feared.

See: Here’s one way for investors to bet that global economic growth is bottoming out

Which stocks are in focus?

Pilots

Read More Here...

Bookmark the permalink.