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US pre-open: Futures point to gains after Trump says trade talks going 'very well'

By Iain Gilbert

Date: Thursday 05 Dec 2019

US pre-open: Futures point to gains after Trump says trade talks going 'very well'

(Sharecast News) - US futures had stocks opening higher on Thursday as market focus remained firmly on the latest trade developments.
As of 1230 GMT, Dow futures were up 0.37%, while S&P 500 and Nasdaq-100 futures were ahead 0.34% and 0.44%, respectively.

The Dow closed 146.97 points higher on Wednesday after reports circulated that a trade deal between the US and China could be closer than previously thought.

Market participants will keep a keen eye on global trade developments yet again on Thursday following news that Beijing and Washington were on the cusp of inking a "phase one" trade deal.

Donald Trump also said Wednesday that as far as he was concerned trade talks with China were going "very well".

The White House has repeatedly threatened to instituted tariffs on another $156bn-worth of Chinese goods on 15 December if a trade is not reached.

CMC Markets analyst David Madden said: "There continues to be chatter that both sides are looking to strike phase one of the trade deal this month - which would probably include the rolling back of tariffs.

"That being said, dealers haven't forgotten the remarks from President Trump that a deal could be delayed until after the 2020 presidential election. The unpredictability of Mr Trump has not been forgotten by some dealers."

On the data front, weekly jobless claims and October's international trade numbers will be published at 1330 GMT, while factor orders data for October were scheduled for release at 1500 GMT.

In corporate news, Dollar General, Tiffany and DocuSign will all post earnings on Thursday.


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