Stock futures point to fourth day of gains on continued U.S.-China trade optimism
Oil prices climb over $50 a barrel
U.S. stock-index futures pointed to a fourth day of gains for Wall Street on Wednesday, with momentum tied to signs the U.S. and China have narrowed differences over trade.
What’s driving the market?
Asian and European stocks rallied, with U.S. oil prices climbing above $50 a barrel, as investors viewed the glass half-full where trade talks between the U.S. and China are concerned.
Talks—which stretched to a third day in Beijing—finished Wednesday, with investors zeroing in on some positive chatter. Focus was also turned to a Bloomberg report that cited White House sources as saying President Donald Trump was eager to see a China deal happen in order to help drive gains for stock markets.
What are analysts saying?
The extension of U.S.-China trade talks to a third day “is being interpreted by the markets as a sign of progress,” said Jasper Lawler, head of research at London Capital Group, in a note.
“Comments coming from both parties continue to indicate that the talks are, so far going ‘very well.’
A deal is likely to still be a long way off, with many twists and turns still to overcome along the way,” he said.
“However, the extension is a step in the right direction, sending a signal that the two sides are in serious negotiations and are working hard to resolve the issues.”
What are other markets doing?
Trade-inspired optimism was credited with lifting global equity markets. In Asia, Japan’s Nikkei NIK, +1.10% rose 1.1%, while stocks in Shanghai SHCOMP, +0.71% advanced 0.7%.
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