U.S. equity futures are pointing to a higher open on Friday morning as investors look ahead to tonight’s meeting between President Trump and China’s President Xi Jinping, which could potentially ease trade tensions between the two nation’s.
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Hopes of a deal were tempered this week after reports that Xi would give Trump a set of conditions to be met by Washington before reaching any settlement. There is also the threat of further tariffs on Chinese goods, which Trump mentioned during an interview this week on FOX Business.
Dow Jones Industrial futures are up by 0.3 percent, S&P 500 futures are also higher by 0.3 percent and Nasdaq futures are up 0.2 percent.
For the month, all three major averages are on pace for gains of more than 6 percent. Trump tweeted about the market’s performance on Friday, taking credit for the market’s strong performance.
Large-cap U.S. banks rose after the Federal Reserve on Thursday approved capital plans of 16 banks.
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Apple shares dipped after the company said Jony Ive, a close creative collaborator with the iPhone maker’s co-founder Steve Jobs, will leave later this year.
Nike moved lower after the company missed analysts’ estimates for quarterly profit.
In Asia on Friday, China’s Shanghai Composite slipped 0.6 percent and was down 0.8 percent for the week. Hong Kong’s Hang Seng lost 0.3 percent but gained 0.2 percent for the week. Japan’s Nikkei ended 0.5 percent lower and lost 0.2 percent for the week.
In Europe, London’s FTSE added 0.3 percent, Germany’s DAX added 0.6 percent and France’s CAC was higher by 0.5 percent.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 26526.58 | -10.24 | -0.04% |
| SP500 | S&P 500 | 2924.92 | +11.14 | +0.38% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7967.758454 | +57.79 | +0.73% |
U.S. stocks closed modestly higher Thursday as investors focused optimistically on the Trump-Xi meeting tonight.
China has, however, listed the removal of Huawei from the U.S. banned list as a demand for a trade deal, according to the Wall Street Journal.
Shares of Boeing fell after the Federal Aviation Administration uncovered a new software issue with the beleaguered Max jet, a fresh hurdle that is likely to further delay the jet from returning to service.
