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Futures bounce as U.S. eases restrictions on Huawei


Added 05-21-19 08:03:02am EST - “U.S. stock index futures rose on Tuesday after the United States temporarily eas...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Futures bounce as U.S. eases restrictions on Huawei”. Below is an excerpt from the article.

(Reuters) - U.S. stock index futures rose on Tuesday after the United States temporarily eased restrictions on China’s Huawei Technologies, allaying investor concerns over a further escalation in a bitter trade war between the two countries.

Chipmakers, which bore the brunt of Monday’s sell-off, rose in premarket trading after Washington granted the Chinese telecoms equipment maker a license to buy U.S. goods until Aug. 19.

President Donald Trump added Huawei to a trade blacklist on Thursday, and several companies have suspended business with the world’s largest telecom equipment maker, triggering fears that the decision could have a bigger impact on the global technology sector.

Reuters reported on Sunday that Alphabet Inc’s Google would stop providing Huawei with access to its proprietary apps and services but Huawei said on Tuesday it is working closing with the U.S. company to resolve the restrictions.

At 7:14 a.m. ET, Dow e-minis were up 126 points, or 0.49%. S&P 500 e-minis were up 16 points, or 0.56% and Nasdaq 100 e-minis were up 61.5 points, or 0.83%.

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