Dow Futures Boom as Trump Admin Clambers to Rescue China Trade Deal
Trump administration officials are scrambling to rescue the China trade deal narrative – and by extension the Dow’s breathtaking 2019 recovery. | Source: AP Photo / Tony Gutierrez
The US stock market is in recovery mode on the cusp of the week’s final trading session, with Dow futures indicating that the index will leap by triple digits at the opening bell.
Dow Futures Jump by 120 Points
As of 8:51 am ET, Dow Jones Industrial Average futures had soared by 124 points or 0.47 percent. S&P 500 and Nasdaq futures also entered the day on a significant incline, jumping 0.42 percent and 0.53 percent, respectively.
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On Thursday, the Dow recovered from early, albeit minor, declines to rise 7.05 points or 0.03 percent. The S&P 500 and Nasdaq each endured a small pullback but managed to hold near its year-to-date highs, with the former dipping 2.44 points or 0.09 percent to 2,808.48 and the latter dropping 12.49 points or 0.16 percent to 7,630.91.
Once again, the stock market is feeling the influence of (what else?) the ongoing US-China trade war. This morning, the trade deal seesaw has Wall Street feeling optimistic, as Chinese news outlet Xinhua reported that Chinese Vice Premier Liu He had spoken on the phone with US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer.