U.S. stock futures rose Friday, pointing to the fourth-straight win for equities, as investors hung on to optimism over a report that Washington might ease trade tariffs on Beijing.
Equity markets will be closed on Monday in observance of Martin Luther King Jr. Day.
How are benchmarks faring?
Dow Jones Industrial Average futures
rose 93 points, or 0.4%, to 24,414, S&P 500 futures gained 6.30 points, or 0.2%, to 2,641.50
futures added 14 points, or 0.2%, to 6,734.
On Thursday, the Dow
erased an earlier loss to rise 162.94 points, or 0.7%, to 24,370.10 in choppy trade. The blue-chip gauge was up 267 points at its session high. The S&P 500 index
added 0.8% to 2,635.96 and the Nasdaq Composite Index
gained 0.7% to finish at 7,084.46.
For the week as of Thursday, the Dow and S&P 500 are each up 1.5% and the Nasdaq Composite is looking at a gain of 1.6%.
What’s driving the market?
Stocks got a late lift Thursday after The Wall Street Journal reported that U.S. officials were debating a possible ease in tariffs on Chinese imports, to give Beijing incentive to make deeper concessions over the trade dispute.
Optimism lingered even though a Treasury spokesman told the WSJ that any bargaining positions remained “at the discussion stage.” As well, that source said neither Treasury Secretary Steven Mnuchin nor U.S. Trade Representative Robert Lighthizer have made any specific trade-related recommendations and talks were still ongoing.
Which stocks are in focus?
shares were plunging in premarket after the company announced job cuts and warned on profits.
added more new subscribers than expected in the holiday season, but shares still declined after the media-streaming giant late-Thursday said it produced more profit than expected in addition to the subscriber beat, though revenue came up just a bit shy of analysts’ expectations.
SunTrust Banks Inc.
Regions Financial Corp.
and Tiffany & Co.
are due to report Friday.
How are other markets trading?
Markets in Asia surged, led by a 1.4% jump for China’s Shanghai Composite Index
In Europe, the Stoxx Europe 600
was also moving higher, while gold
is falling and the U.S. dollar
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