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Stocks - U.S. Futures Rise as China Offers to Buy American Agricultural Goods 

Published 10/09/2019, 06:50 AM
Updated 10/09/2019, 06:52 AM
© Reuters.

Investing.com - Wall Street was set to open higher on Wednesday on trade optimism after China reportedly offered to increase soybean purchases to 30 million tonnes from 20 million tonnes currently purchased in a peace offering ahead of high-level trade talks in Washington this week.

China is open to a limited deal as long as no more tariffs are imposed, Bloomberg reported. A deal still remains uncertain, as President Donald Trump has said he is not interested in a short- term deal and higher tariff duties are still scheduled to take effect later this month and in December.

Nasdaq 100 futures rose 79 points or 1.1% by 6:48 AM ET (10:48 GMT), while Dow futures rallied 205 points or 0.8% and S&P 500 futures were up 25 points or 0.9%.

Semiconductors, which are sensitive to trade news, were higher in premarket trade. AMD (NASDAQ:AMD) gained 1.6%, while NVIDIA (NASDAQ:NVDA) was up 1.3%. Tesla (NASDAQ:TSLA) rose 1.1% and Apple (NASDAQ:AAPL) inched up 1.3%.

Elsewhere, Johnson & Johnson (NYSE:JNJ) tumbled 1.8% after a court ordered the company to pay a Maryland a man $8 billion because its antipsychotic drug Risperdal caused him to grow enlarged breasts.

The Federal Reserve will release the minutes from its latest policy meeting at 2:00 PM ET (18:00 GMT).

In commodities, crude oil futures gained 0.9% to $53.11 a barrel. Gold futures were up 0.3% to $1,507.85 a troy ounce, while the U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.1% to 98.730.

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Latest comments

No trends. Funds just churning the market.
Has air china left DC yet ?
Does not sound right to me. With all the sanctions even as early as yesterday.
China is giving goodies. lol
Good Job China,Trade problem Trade settle,buy more pls
Pump and dump
So far our TOTAL U.S. production is roughly 123 "million" tons. Billions?
30 billions tons???
We need the tariffs to offset the 15% cut in corporate taxes.
It should be 3 billion USD and 30 tonnes.
30 billion tones means more than 15 tones of beans for every chinese man, woman or child. that is insane. and fake
so it's 2 billion population in China?
even so the entire US soybean production estimates is 3,63 billion bushels equal about 100 million tons for 2019
trump will find a way to ruin everything...if not today, then tomorrow. That, you can take to the bank.
Haven't they already agreed on a while ago?
headline pumping should be illegal. thanks for coming to my TED Talk.
8 billion, for enlarged breast.
and then trump says no, only a comprehensive deal...and the rally fizzles...again
You called it! Great job!
The is incorrect —- This article has been corrected to state that Mr Liu’s team is offering to boost annual purchases of soy beans to 30m tonnes compared with 20m at present, rather than increasing spending from $20bn to $30bn on agricultural goods.
Trump is gonna lose any hope of a second term if he doesn't start taking advantage of situations like this. Most Americans aren't happy with him as it is.
Most Americans?
Trump is gonna lose any hope of a second term if he doesn't start taking advantage of situations like this. Most Americans aren't happy with him as it is.
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