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Stocks - U.S. Futures Rise as Kudlow Points to Trade Deal 

Published Nov 15, 2019 06:56AM ET
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Investing.com - U.S. futures rose on Friday as sentiment was boosted by upbeat trade comments from White House economic advisor Larry Kudlow.

Kudlow said on Thursday that the U.S. and China were close to securing a trade deal. His comments come after a week of volatility after reports that the two sides had hit a snag over trade talks.

Nasdaq 100 rose 27 points or 0.3% by 6:55AM ET (11:55 GMT), while Dow futures gained 69 points or 0.3% and S&P 500 Futures were up 7 points or 0.2%.

Applied Materials (NASDAQ:AMAT) jumped 5.6% in premarket trade after reporting a strong fiscal fourth-quarter, while Nvidia (NASDAQ:NVDA) rose 0.4% after it beat on its top and bottom line and chipmaker Qualcomm (NASDAQ:QCOM) gained 1.7% in sympathy.

Grubhub (NYSE:GRUB) jumped 3.9% after Shake Shack (NYSE:SHAK) reported that it is launching a nationwide delivery service with the company. The service will be offered free of charge through Nov. 17.

On the data front, retail sales, import prices and the Empire State manufacturing index are out at 8:30 AM ET, followed by industrial production numbers at 9:15 AM ET.

In commodities, gold futures fell 0.4% to $1,466.85 a troy ounce, while the U.S. dollar index, which measures the greenback against a basket of six major currencies, was flat at 98.010. Crude oil futures dipped 0.2% to $56.66 a barrel.

Stocks - U.S. Futures Rise as Kudlow Points to Trade Deal 
 

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Comments (12)
Ezehalles Monteiro
Ezehalles Monteiro Nov 16, 2019 11:13PM ET
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In Brazil, news reports that the trade agreement is going well and that negotiations will continue. but when the market crashes, as soon as news comes out that the deal will not come out or that Trump has given up. For some time now I've only seen incoherent news like this. When the house goes down, I hope I am not positioned in the purchase.
Crude Prince
Crude Prince Nov 15, 2019 8:00PM ET
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Kudlow cronies might be buying alot. Crazy! Fake non official hints ******many people tax money
MWAN WAN
MWAN WAN Nov 15, 2019 12:38PM ET
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Kudlow has signaled encouraging progress on China trade numerous times this year, but the talks have led to nothing concrete so far
Mark Deren
Mark Deren Nov 15, 2019 10:04AM ET
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I see a lot of people blaming Trump administration personnel for falsely pumping up the market with vague trade deal optimism. However, the knee-jerk bullish reactions to the false / misleading statements is on those that run the money, not the administration personnel. These reactions are what should be worrying everyone because one day, someone is going to notice that the algos responding to all these statements (that have led essentially to nowhere over the entire year in terms of an actual trade deal) )have caused a massive valuation distortion in Stock and Bond Markets which will invariable lead to the whole house of cards to come crashing down hard.
Pwr Strk
Pwr Strk Nov 15, 2019 10:04AM ET
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I Robot
MWAN WAN
MWAN WAN Nov 15, 2019 10:04AM ET
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well said
JJ MM
JJ MM Nov 15, 2019 10:04AM ET
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They all sleep in the same bed
Hank Williams
Hank Williams Nov 15, 2019 9:49AM ET
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Now we get weeks of the second stooge stating its just around the corner. ha ha ha
George Hotz
George Hotz Nov 15, 2019 9:27AM ET
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Why you don’t put the post with: Industrial Production fall -0.4 ?!?
Nikolas Stark
Nikolas Stark Nov 15, 2019 9:21AM ET
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The majority of stock market bull in US is caused by buybacks (>70%) and Fed printing money to boost stocks. US Stocks are overvalued by far. They want to look strong for as long as possible. But all of this pumping will be exhausted in less than one year.
James Choi
James Choi Nov 15, 2019 9:14AM ET
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Kudlow has probably made more money during his short stint working with Trump than his entire working career.  There is no doubt people are frontrunning this propaganda.
Howie Zoukl
Howie Zoukl Nov 15, 2019 8:47AM ET
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wait what.. didnt trump say trade deal in hold yesterday??? and now kudlow says it's happening what's going on
Che Tran
Che Tran Nov 15, 2019 8:47AM ET
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six flag administration
nick bryson
nick bryson Nov 15, 2019 8:07AM ET
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trump says trade deal is on hold yesterday. today kudlow says it is on and the market jumps.
 
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