9.1 C
New York
Sunday, May 9, 2021

Wall Street futures higher after U.S.-China trade deal assurance

Must read

China says remnants of Long March 5B about to re-enter earth’s atmosphere

World7 minutes ago (May 08, 2021 11:35PM ET) (C) Reuters. FILE PHOTO: The Long March-5B Y2 rocket, carrying the core module of China's space station...

Afghan school blast toll rises to 58, families bury victims

World11 minutes ago (May 08, 2021 11:31PM ET) 5/5 (C) Reuters. People stand at the site of a blast in Kabul, Afghanistan May 8, 2021. REUTERS/Stringer...

Chinese rocket debris set for re-entry in coming hours- tracking centres

World47 minutes ago (May 08, 2021 08:55PM ET) (C) Reuters. FILE PHOTO: The Long March-5B Y2 rocket, carrying the core module of China's space station...

Putin to review Russian military might as tensions with West soar

World57 minutes ago (May 08, 2021 08:45PM ET) 2/2 (C) Reuters. FILE PHOTO: Russia's President Vladimir Putin waves as he leaves after the Victory Day Parade...
imageStock Markets21 minutes ago (Aug 25, 2020 06:25AM ET)

(C) Reuters. FILE PHOTO: A person wearing a face mask walks along Wall Street after further cases of coronavirus were confirmed in New York City, New York

By Medha Singh

(Reuters) – U.S. stock index futures rose for a fourth straight session on Tuesday as U.S.-China officials reaffirmed their commitment to a Phase-1 trade deal, adding to market optimism from signs of progress in developing treatments and vaccines for COVID-19.

The pledge was made in a telephone call, the first formal dialogue since early May between the two sides, and came amid growing concerns that the deal could be on shaky ground because of worsening relations.

The S&P 500 and Nasdaq logged new closing highs on Monday. The benchmark index surpassed its pre-pandemic high last week even as recent economic data pointed to a wobbly recovery from the virus-led downturn.

Later in the day, a survey from the Conference Board is expected to show U.S. consumer confidence improved slightly in August after falling more than expected in July amid a flare up in coronavirus cases.

Investors also await Federal Reserve Chairman Jerome Powell’s address on Thursday for hints on the central bank’s next steps to support an economic recovery.

Among stocks, Salesforce.com Inc (N:CRM), Amgen Inc (O:AMGN) and Honeywell International Inc (N:HON) climbed between 3.6% and 4% premarket on news they would join the blue-chip Dow Jones Industrial Average index <.djia> on Aug. 31.</.djia>

The three companies will replace Exxon Mobil Corp (N:XOM), Pfizer Inc (N:PFE) and Raytheon Technologies Corp (N:RTX), which were down between 1.5% and 2.4%.

At 5:51 a.m. ET, Dow e-minis were up 159 points, or 0.56%, S&P 500 e-minis were up 12.75 points, or 0.37% and Nasdaq 100 e-minis were up 25 points, or 0.21%.

Consumer electronics retailer Best Buy Co Inc (N:BBY), Folgers coffee maker JM Smucker Co (N:SJM), medical device maker Medtronic Plc (N:MDT) are due to report quarterly results before the opening bell.

Wall Street futures higher after U.S.-China trade deal assurance

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.

- Advertisement -

Latest article

China says remnants of Long March 5B about to re-enter earth’s atmosphere

World7 minutes ago (May 08, 2021 11:35PM ET) (C) Reuters. FILE PHOTO: The Long March-5B Y2 rocket, carrying the core module of China's space station...

Afghan school blast toll rises to 58, families bury victims

World11 minutes ago (May 08, 2021 11:31PM ET) 5/5 (C) Reuters. People stand at the site of a blast in Kabul, Afghanistan May 8, 2021. REUTERS/Stringer...

Chinese rocket debris set for re-entry in coming hours- tracking centres

World47 minutes ago (May 08, 2021 08:55PM ET) (C) Reuters. FILE PHOTO: The Long March-5B Y2 rocket, carrying the core module of China's space station...

Putin to review Russian military might as tensions with West soar

World57 minutes ago (May 08, 2021 08:45PM ET) 2/2 (C) Reuters. FILE PHOTO: Russia's President Vladimir Putin waves as he leaves after the Victory Day Parade...

Three people, including a 4-year-old, shot in New York’s Times Square

World1 hour ago (May 08, 2021 08:41PM ET) 4/4 (C) Reuters. New York City police officers stand guard after a shooting incident in Times Square, New...