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Wall Street set for modest gains at open after previous day's sell-off


Added 05-24-19 09:03:02am EST - “U.S. stocks were set to open modestly higher on Friday after a sell-off, on caut...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Wall Street set for modest gains at open after previous day's sell-off”. Below is an excerpt from the article.

(Reuters) - U.S. stocks were set to open modestly higher on Friday after a sell-off, on cautious optimism after President Donald Trump predicted a swift end to the tariff war with China and a resolution to complaints against Huawei Technologies Co Ltd.

Trump said on Thursday that Huawei could be included in the U.S.-China trade deal. However, no high-level talks have been scheduled since the last round of negotiations in Washington two weeks ago.

Earlier this week, while Washington temporarily relaxed its ban on Huawei, there were reports that it was planning a similar ban on another Chinese firm, making investors worry that such moves would have a lasting effect on the global technology supply chain.

“I don’t see enormous amounts of positive news out there although there is optimism about the trade discussions,” said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.

Boeing shares rose 1.1% after Reuters reported the Federal Aviation Administration expects to approve Boeing’s 737 MAX jet to return to service as soon as late June.

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