US stocks to rise at the open as trade concerns abate
U.S. stock index futures pointed to gains at the open Monday, amid hopes of a potential breakthrough in trade tensions between the world’s two largest economies.
At 8:15 a.m. ET, Dow Jones industrial average futures rose 56 points, indicating a higher implied open of 70.83 points. Nasdaq 100 and the S&P 500 futures also indicated an upbeat start to the session for their respective markets.
The moves in premarket trade followed comments from President Donald Trump over the weekend, in which he pledged to help Chinese technology firm ZTE Corp to “get back into business, fast” after a U.S. ban had significantly hampered the Asian company.
Trump’s tweet on Sunday came ahead of second round of trade talks between the U.S. and China this week. Trade officials are seeking to find a way to resolve an ongoing trade dispute, although Beijing has already said it will not change its current position over the coming days.
U.S. stocks closed higher on Friday to record a week of solid gains following a strong rally in energy stocks. The Dow also posted a seven-day winning streak.
Meanwhile, more earnings are scheduled to be released in the U.S. on Monday. Nissan was poised to release its latest figures before the opening bell, while Invitation Homes and Switch were among the major firms set to report earnings later in the session.
No major economic data are scheduled to be published on Monday.