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Stocks - U.S. Futures Jump on Trade Hope 

Stock Markets Oct 11, 2019 06:55AM ET
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Investing.com - U.S. futures jumped on Friday after positive comments from U.S. President Donald Trump on trade talks helped boost sentiment.

Trump told reporters on Thursday that talks between the two countries were going “really well,” which followed a tweet that he will meet with Chinese Vice Premier Lui He on Friday. Negotiations are scheduled to continue throughout the day. The news helped bolster markets after a few days of whiplash following conflicting reports on trade progress.

Nasdaq 100 futures gained 80 points or 1% by 6:54 AM ET (10:54 GMT), while Dow futures rose 234 points or 0.9% and S&P 500 futures were up 25 points or 0.9%.

Sentiment was also helped a strong performance in Europe, where shares rocketed on prospects of a deal that would secure a smooth Brexit.

Roku jumped 5.5% in premarket trade after RBC upgraded the streaming device company, which stands to benefit from the proliferation of streaming packages hitting the market to challenge Netflix's current supremacy.

Oil companies were higher, as crude oil surged following reports of an Iranian oil tanker set alight on early Friday. Crude oil futures jumped 1.7% to $54.47 a barrel. Chesapeake Energy (NYSE:CHK) gained 7.8%, while Exxon Mobil (NYSE:XOM) rose 1.8% and Chevron (NYSE:CVX) was up 1.5%.

On the data front, import prices come out at 8:30 AM ET, with the University of Michigan's consumer sentiment figures for October later in the session.

In commodities, gold futures inched down 0.1% to $1,499.75 a troy ounce, while the U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.2% to 98.175.

Stocks - U.S. Futures Jump on Trade Hope 
 

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Comments (10)
Pwr Strk
Pwr Strk Oct 11, 2019 10:40AM ET
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monday hope up, tuesday hope down, wednesday hope up, thursday hope down, friday hope up... average hope average, trending hope flat, forecast hope clear
Erski Gumby
SB20 Oct 11, 2019 10:40AM ET
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Nicely put.
AA AA
AA AA Oct 11, 2019 9:51AM ET
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trade hope? Well hope is not a strategy in trading. lets be cautious for now. It might be a bull trap maybe not. lets just observe for now :)
Xin Zhang
Xin Zhang Oct 11, 2019 9:51AM ET
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dude, to my experience so far, you have to ride the tide of crowd, you go in the morning, you get out in the afternoon, that is it.
Junk Man
Junk_Man Oct 11, 2019 9:47AM ET
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How long will this optimism last?
Pasin Unga
Pasin Unga Oct 11, 2019 8:49AM ET
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good (thailand Set index will be Rise)
Oct 11, 2019 7:55AM ET
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subterfuge. lots of short term uso calls and then a tanker gets lit. suspicious
Steve Bucher
Steve Bucher Oct 11, 2019 7:55AM ET
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Also suspicious is that the oil tanker was hit just before Aramco IPO pricing.
Mike Roland
Mike Roland Oct 11, 2019 7:43AM ET
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so many other factors involved such a monetary data from around the globe stating downturns abound. Globally companies are downsizing, including HSBC whose profits are up but is still cutting 10% of its staff, amongst other cuts being seen happening, more will surely follow, when banks start to cut there is a looming problem. Consumer spending reports have been less robust the last 3 months and then there was that inverted lending curve.. with everything made in China nowadays and point to every country in the world how can investors be so focused on words tweeted everyday, especially the gushing optimism put forth by trump just to not look bad for the elections. Remember he inherited a great moving economy that was rolling in the right direction 4 years before this so called administration came to power.. so now let's see the US deficit in the next year or two and see its impact, so enjoy while you can
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Delonte Crosby
Delonte Crosby Oct 11, 2019 7:43AM ET
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Zoltan McVeigh  https://www.foxbusiness.com/markets/uaw-letter-to-gm-indicates-that-strike-wont-end-quickly They have been on strike for a while now. It is a car manufacturing company.. Money is being loss almost every day with this strike.The higher ups need to just give the union workers what they want unless they want to lose more money.
Zoltan McVeigh
Zoltan McVeigh Oct 11, 2019 7:43AM ET
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GM used to be number 1, but with the "help" of unions they have been degrading quickly.
Delonte Crosby
Delonte Crosby Oct 11, 2019 7:43AM ET
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Zoltan McVeigh   Got to have something so the a person as an employee don't get taken advantage of..The bosses of companies like that don't see the struggle or labor that the employees go through just to get to work or pay their own bills.
Zoltan McVeigh
Zoltan McVeigh Oct 11, 2019 7:43AM ET
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I'm a blue collar worker that retired very early. We didn't have the benefit of a union. We realized, if we didn't like the compensation we were receiving we could always find other employment. I know people that retired from the auto industry. They received very fair compensation as compared to the average worker. I'm sorry if my compassion is more towards those struggling to make ends meet. That and now I spend a good portion of my time in countries where people are struggling to just feed themselves.
Zoltan McVeigh
Zoltan McVeigh Oct 11, 2019 7:43AM ET
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GM has the highest labor cost in the industry. You have to stay competitive to keep people employed. We never had a labor union and it worked out just fine. Rough 11.3% of workers in the US are unionized, according to some quick researching. Other companies in the field seeking people with experience is generally enough for them to keep compensation competitive. Leading the industry in labor costs makes it harder and harder for them to stay competitive. All the while continuing to lose ground against automakers like Fiat Chrysler.
Dee Mehta
DMFINANCE Oct 11, 2019 7:42AM ET
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Last hour will be fun or even before if vp doesnt meet potus
Steven Chen
Gamer_LG Oct 11, 2019 7:41AM ET
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suddenly world is all peaceful again. lmao.
Ivan Couto Jr
Ivan Couto Jr Oct 11, 2019 7:26AM ET
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yeah, I saw the comment from Chinese president saying that he has no interest to meet clown Crush at this stage.
Delonte Crosby
Delonte Crosby Oct 11, 2019 7:26AM ET
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I don't blame him.. He can say one thing then the market goes down something crazy. just off of the stuff he says that's negative.
Paul Dunne
Paul Dunne Oct 11, 2019 7:25AM ET
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Yawn! Until Monday... :(
 
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