Equity futures are posting gains on Friday to start the new month on optimism about a US-China trade deal.
Continue Reading Below
The major averages finished February higher, with the Dow, S&P and Nasdaq up 3 of the last 4 months.
Dow Jones futures were rising by 0.7 percent. The S&P 500 added 0.6 percent and the Nasdaq Composite was up 0.7 percent.
Trade negotiators are reportedly preparing a final deal between the U.S. and China, which could be signed in the coming weeks, according to Bloomberg.
Treasury Secretary Steve Mnuchin said Thursday that a 150-page document is being readied, but cautioned there’s “more work to do.”
In Asian markets on Friday, China’s Shanghai closed up 1.8 percent, but rose 6.8 percent for the biggest weekly gain in four years. Hong Kong’s Hang Seng added 0.5 percent for the day and Japan’s Nikkei added 1 percent for the session and 0.8 percent for a third weekly gain.
Advertisement
In Europe, London’s FTSE is higher by 0.5 percent, Germany’s DAX jumped 1 percent and France’s CAC added 0.6 percent.
Stocks slumped modestly Thursday after an abrupt and apparently unsuccessful summit between President Trump and North Korean leader Kim Jong Un.
The negative effect on equity markets of the surprising end to the meeting in Hanoi, Vietnam, was partially offset by a U.S. government report that the economy grew by a rate of 2.6 percent this winter, beating analysts’ estimates of 2.3 percent, thanks to solid consumer and business spending.
