By Manas Mishra

(Reuters) – U.S. stock index futures touched fresh record highs on Friday as optimism over U.S.-China trade tensions and an improving global economy brightened investor sentiment going into the new year.

Signaling resilience in the global economy, data showed China’s industrial profits grew at the fastest pace in eight months in November. The figures added to a slate of upbeat reports from the Asian country, including on industrial production and retail sales.

Robust U.S. economic data, relatively loose monetary policy and hopes of an imminent trade truce between Beijing and Washington have fueled a Wall Street rally this month.

The S&P 500, which has hit record highs in two of three sessions in a holiday-shortened week, is now about half a percentage point away from logging its best year since 1997.

All three major indexes posted record closing highs on Thursday, with the Nasdaq breaching the 9,000 mark for the first time.

Still, some analysts have sounded a cautious note, citing risks to earnings growth next year from lingering weakness in Chinese demand.

At 7:16 a.m. ET, were up 93 points, or 0.32%. S&P 500 e-minis were up 8.25 points, or 0.25% and were up 34.5 points, or 0.39%.

In scant individual movers premarket, shares of Tesla Inc (O:) were indicated at another record high after the carmaker said it would begin delivering its China-made Model 3 vehicles on Dec. 30.

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.

Source link