Originally posted by FrankMe
U.S. stock futures higher as trade optimism set to keep gains going on Wall Street
U.S. stock futures pointed to a slightly firmer start for Wall Street on Tuesday, as investors hoped for a third-straight session of wins backed by optimism over trade talks.
What’s driving the market?
Optimism on the trade front continued to nudge investors toward perceived riskier assets such as stocks. Face-to-face negotiations between U.S. and China officials were entering a second day on Tuesday, with hopes rising that talks will bear fruit after President Xi Jinping’s top policy aide Chinese Vice Premier Liu He made an appearance on Monday.
What are strategists saying?
“The key catalyst here is the U.S.-China trade talks and investors are hoping for some kind of progress that will allow equities to recover, while the recent downbeat tone coming from the Fed is also helping things amid expectations for fewer rate hikes,” said Konstantinos Anthis, head of research at ADSS, in a note to clients.
“However, investors will now start focusing on U.S. earnings’ season and it will be key to see whether corporate results continue to slow down, further dampening risk sentiment,” he added.
www.marketwatch.com
President says China trade talks going well
President Donald Trump is readying for a prime-time address to the nation about border security on Tuesday night, and cited what he said was progress in U.S.-China trade talks.
PROGRESS ON CHINA TALKS CITED
The president said trade talks with China are “going very well” in a tweet.
U.S. stock indexes DJIA, +1.09% traded higher Tuesday, backed by optimism over trade.
The Wall Street Journal reported Washington and Beijing have made progress on narrowing their trade differences, especially on purchases of U.S. goods and services and further opening China’s markets.
Both sides believe enough progress has been made for a next round of talks among cabinet-level officials, probably later this month in Washington, the Journal said.
www.marketwatch.com
