Dow futures jump 200 points on a report China is open to a partial US trade deal - CNBC

U.S. stock index futures jumped Wednesday morning on a Bloomberg report that said China is open to agreeing to a partial trade deal with the U.S.

Around 5:40 a.m. ET, Dow futures indicated a positive open of about 200 points. Futures on the S&P and Nasdaq were both higher as well.

Market focus is largely attuned to global trade developments, with high-level negotiators from the U.S. and China poised to meet for a fresh round of talks in Washington, D.C., on Thursday. Citing an official with direct knowledge of the talks, Bloomberg reported that China is prepared to accept a partial trade deal as long as no more tariffs are imposed by President Donald Trump. (Read the complete report here.)

President Trump has said tariffs on Chinese imports will increase on October 15 if no progress is made in bilateral trade negotiations.

The world's two largest economies have imposed tariffs on billions of dollars' worth of one another's goods since the start of 2018, battering financial markets and souring business and consumer sentiment.

The long-running dispute has slowly expanded beyond trade policy, exacerbating fears about further damage to a fragile global economy.

To be sure, U.S. visa restrictions on Chinese officials and the addition of more Chinese companies to a U.S. trade blacklist this week has dampened already slim hopes of a trade truce.

On the data front, weekly mortgage application numbers are expected out at 7 a.m. ET, and wholesale trade figures for August and Job Openings and Labor Turnover Survey (JOLTS) data for August will both be released at around 10 a.m. ET.

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https://www.cnbc.com/2019/10/09/stock-market-wall-street-looks-ahead-to-us-china-trade-talks.html

2019-10-09 06:34:39Z
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