Wednesday , June 16 2021

Futures of US stocks point to Wall Street's fresh peaks in terms of optimism in trade deals

US stock futures have shown that key indices may move to new highs on Wednesday after President Donald Trump said he could set a deadline for trading in China if both sides made good progress.

How do basic indexes work?

Dow Jones Industrial Average futures

YMH9, + 0.18%

a growth of 115 points, or 0.5%, to 25,521 while the S & P 500 futures

ESH9, + 0.14%

growth of 10.95 points, or 0.5%, to 2,755.75. Nasdaq-100 futures

NQH9, + 0.33%

climbed 41.75 points, or 0.6%, to 7 060.50.

Core indices closed the highest for 2019 on Tuesday with Dow Jones Industrial Average

DJIA, + 1.49%

rose by 372.65 points, or 1.5%, to 25,445.76, while the S & P 500

SPX, + 1.29%

growth of 1.3% to 2744.73, ending its 200-day sliding average for the first time in 46 days. This marked S & P's longest stay below the main trend since March 2016, according to the Dow Jones Market Data Group.

Composite index Nasdaq

COMP, + 1.46%

advanced by 1.5% to 7,414.62.

ReadMorgan Stanley warns of an on-going recession of income

What drives the market?

Providing new optimism to investors, President Trump said on Tuesday that it would allow for flexibility in terms of time to conclude a deal with China if the deal looks closer. The White House had previously indicated 2 March as a "heavy deadline" for an agreement. Meanwhile, Chinese President Shi Jinping is expected to meet with key members of the US delegation on Friday, sources from South China Morning Post reported.

A third day of bilateral trade talks was held in Beijing, and Finance Minister Stephen Munchin and US Trade Representative Robert Lightheiser expected more high-level discussions Thursday. The White House has previously mentioned a "hard time" to make a deal, as at 12:01 pm Eastern time on March 2.

Read: For the Stock Exchange, profits from a trade war may be an empty win

Meanwhile, Trump said on Tuesday that the government's second closure is unlikely, though he expressed his dissatisfaction with the preliminary agreement that allowed a 55-kilometer new border fence achieved by MPs and Republicans on Monday.

Investors will receive consumer prices in January at 8:30 AM Eastern Time, and the federal budget for December will be at 2 o'clock. Eastern time zone. Atlanta's Federal Reserve President Rafael Bostich will appear in a moderated discussion at the European Financial Forum in Dublin, Ireland at 8:50 am East, and Philadelphia President Patrick Harker will talk about the economic prospects of lunch for the Jewish business network in Philadelphia . Eastern.

Cleveland President Fed Loretta Mester will talk about economic prospects and monetary policy in Lexington, Kentucky at 8:50 pm East.

How is it traded on other markets?

The optimism of trade and the strong Wall Street session on Tuesday inspired profits in global markets. The Asia Nikkei 225 index

NIK, + 1.34%

jumped 1.3% and Shanghai Composite grew by nearly 2%. Stoxx Europe 600

SXXP, + .30%

was ready for profits, as European stock futures also rose.

Raw materials prices

CLH9, + 1.11%

Saudi Arabian Energy Minister Khalid al-Falih told the Financial Times that the country would cut oil production to close to 9.8 billion barrels a day in March. gold

GCH9, + 0.05%

grew while the US dollar

DXY, + 0.11%

slipped against his peers.

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