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Stocks - U.S. Futures Jump on Trade Hope 

Published 10/11/2019, 06:55 AM
Updated 10/11/2019, 06:55 AM
© Reuters.

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.

Latest comments

monday hope up, tuesday hope down, wednesday hope up, thursday hope down, friday hope up... average hope average, trending hope flat, forecast hope clear
Nicely put.
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 :)
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.
good (thailand Set index will be Rise)
subterfuge. lots of short term uso calls and then a tanker gets lit. suspicious
Also suspicious is that the oil tanker was hit just before Aramco IPO pricing.
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
  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.
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.
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.
Last hour will be fun or even before if vp doesnt meet potus
suddenly world is all peaceful again. lmao.
yeah, I saw the comment from Chinese president saying that he has no interest to meet clown Crush at this stage.
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.
Yawn! Until Monday... :(
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