U.S. stocks are pointing to a higher open on Friday when Wall Street opens, looking to rebound from losses spurred by concerns what impact an impeachment inquiry into President Trump will have on markets.
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The three major equity futures indexes are trading 0.3 percent higher.
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The congressional inquiry into Trump is throwing more volatility into a market that already was nervous over U.S.-Chinese trade tension.
While many analysts say the Trump probe isn’t likely to affect the market significantly, it does add a degree of uncertainty and could complicate the White House’s efforts to resolve trade disputes with China and other nations.
Also Thursday, the Commerce Department reported the U.S. economy grew at a modest 2 percent in the second quarter, sharply lower than the past year’s 3 percent-plus growth rates.
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| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 26891.12 | -79.59 | -0.30% |
| SP500 | S&P 500 | 2977.62 | -7.25 | -0.24% |
| I:COMP | NASDAQ COMPOSITE INDEX | 8030.660825 | -46.72 | -0.58% |
On Wall Street, the Standard & Poor’s 500 index fell 0.2 percent and the Dow Jones Industrial Average slid 0.3 percent. The Nasdaq dropped 0.6 percent.
In Asian markets, China’s Shanghai Composite Index ended the day adding 0.1 percent, but lost 2.5 percent for the week. It was the final day of trading before Chinese markets close for a weeklong holiday.
Tokyo’s Nikkei 225 closed down 0.8 percent and a loss of 0.9 percent for the week. Hong Kong’s Hang Seng shed 0.3 percent.
Traders in Asia were encouraged by a Chinese Commerce Ministry announcement that importers had agreed to buy U.S. soybeans as the two sides make conciliatory gestures ahead of trade talks.
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Plans to go ahead with negotiations next month have helped to ease market jitters, but there has been no sign of progress toward resolving the bruising tariff war over trade and technology.
In Europe, London’ FTSE added 0.8 percent, Germany’s DAX gained 0.5 percent and France’s CAC was up 0.3 percent.
The Associated Press contributed to this article.
