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Futures rise on increased hopes of trade deal with China


Added 12-05-19 08:03:02am EST - “U.S. stock index futures rose on Thursday, setting Wall Street for a second sess...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Futures rise on increased hopes of trade deal with China”. Below is an excerpt from the article.

(Reuters) - U.S. stock index futures rose on Thursday, setting Wall Street for a second session of gains this week, on increased hopes of a preliminary trade deal between the United States and China.

Headlines around trade suggested the world’s two largest economies were closer to agreeing how many tariffs would be rolled back in a “phase one” trade deal, while President Donald Trump said talks with China were going “very well”.

A more optimistic tone around trade helped Wall Street's main indexes snap a three-day losing streak in the previous session, putting the benchmark S&P 500 .SPX index about 1% away from an all-time high hit last week.

However, if no agreement is reached soon, more tariffs on Chinese goods would come into effect from Dec. 15.

Shares of tariff-sensitive semiconductor companies looked set to rise for the second straight day, with Micron Technology Inc (MU.O), Advanced Micro Devices Inc (AMD.O) and Nvidia Corp (NVDA.O) gaining between 1% and 1.3% in premarket trading.

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