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U.S.-China trade progress boosts futures at end of turbulent year


Added 12-31-18 09:03:02am EST - “U.S. stock index futures rose on Monday, boosted by signs of progress in the U.S...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “U.S.-China trade progress boosts futures at end of turbulent year”. Below is an excerpt from the article.

(Reuters) - U.S. stock index futures rose on Monday, boosted by signs of progress in the U.S.-China trade dispute and rising crude oil prices, setting up Wall Street to end its worst year in a decade on an upbeat note.

U.S. President Donald Trump said he had a “very good call” with China’s President Xi Jinping on Saturday to discuss trade and claimed “big progress” was being made.

“The progress cited by Trump on trade talks and a continuation of last week’s rally are lifting investor spirits,” Peter Cardillo, chief market economist at Spartan Capital Securities, said in a client note.

The update on the trade front also helped boost crude oil prices more than 2 percent, bolstering the stock market. [O/R]

At 7:32 a.m. ET, Dow e-minis 1YMc1 were up 241 points, or 1.05 percent. S&P 500 e-minis ESc1 were up 23.5 points, or 0.95 percent and Nasdaq 100 e-minis NQc1 were up 70 points, or 1.11 percent.

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