U.S. stock futures shook off trade war threats to point to a higher open on Monday morning.
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Dow Jones futures were rising by 0.70%. The S&P 500 added 0.69% and the Nasdaq Composite was up 0.72%.
The Dow closed Friday down more than 500 points, as trade fears and a weak jobs report weighed on investor sentiment
All three major U.S. stock indexes finished in negative territory for the week.
The Dow fell 572.46 points, or 2.3%, to 23,932.76. The S&P 500 Index lost 58.37, or 2.2%, to 2,604.47. The Nasdaq slid 161.44, or 2.3%, to 6,915.11.
China’s commerce ministry on Friday said it would fight the U.S. at “any cost” after President Donald Trump threatened to impose tariffs on an additional $100 billion in Chinese imports.
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U.S. Treasury Secretary Steven Mnuchin said on Sunday there was a risk of a trade war between the United States and China after the countries proposed imposing tariffs on billions of dollars’ worth of one another’s goods, but that he did not expect one.
“Our expectation is that we don’t think there will be a trade war; our objective is to continue to have discussions with China … I don’t expect there will be a trade war – it could be, but I don’t expect it at all,” he told CBS’ Face The Nation.
Asian markets were following U.S. futures higher.
China’s Shanghai was up 0.37%.
Hong Kong’s hang Seng added 1.76%.
Japan’s Nikkei put on 0.6%.
Investors ended the week reacting to the latest payrolls report, which showed the U.S. economy added a lower-than-expected number of jobs in March.
Employers created 103,000 jobs last month, missing expectations for 193,000 jobs, while the jobless rate remained at 4.1% versus analysts’ expectations that it would fall to 4%.
This week’s U.S. economic highlights will include a pair of inflation reports, producer prices (Tue.), consumer prices (Wed.) and the minutes of the last Fed meeting also on Wednesday.
