On Wednesday, American stock index futures headed south because dismal data out of China affected market sentiment, while traders waited for more developments related to the US-China trade conflict…
American futures gain on hope of US-China trade negotiations
On Tuesday, American futures managed to gain because expectations that China and America will have trade hostilities toned down brought the S&P and Nasdaq to all-time maximums.
The S&P 500 futures tacked on by 0.18% hitting 2,863.75. Dow futures soared by 0.21% showing 25,812.0. Additionally, tech heavy Nasdaq 100 futures jumped by 0.28% coming up with 7,407.75.
Chinese and American officials are anticipated to meet on Wednesday and Thursday in Washington with the aim of discussing trade disagreements, before the latest round of trade duties come true.
However, US leader told Reuters that he doesn’t expect much progress from these negotiations, dampening hopes that a compromise will be reached before the duty deadline.
In addition to this, a number of retailers are anticipated to post their revenue before the opening bell. Among them will be Kohl’s Corporation as well as TJ Maxx parent company - TJX Companies.
Technology equities turned out to be among the top performers in pre-market trade, with Tesla soaring by 1.82% and Facebook adding 0.23%. China’s e-commerce company Jd.Com Inc Adr managed to ascend by 2.14%. As for Apple, its shares rallied by 0.66%.
Additionally, Sodastream International Ltd inched down by 0.35%. Perrigo Co sank by 0.70%.
Meanwhile, in the European Union, equities generally gained. The DAX added by 0.73% in Germany. The CAC 40 rallied by 0.78% in France. The FTSE 100 dipped by 0.39% in Great Britain. In addition to this, the Euro Stoxx 50 soared by 0.69%. The IBEX 35 added 1.08% in Spain.
Gold futures jumped by nearly 0.49% showing $1,200.40 a troy ounce.
Crude futures leapt by 0.03% demonstrating $65.44 a barrel.
Assessing the greenback’s purchasing power against its main rivals, the USD index dived by about 0.25% coming up with 95.44.
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The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.