(Bloomberg) – US stock index futures pointed to a rally after China said the trade meeting with the US was…
(Bloomberg) – US stock index futures pointed to a rally after China said the trade meeting with the US was “very successful” and it is “safe” to implement the results agreed upon in the negotiations.
Futures recovered in the wake of the underlying market’s largest route in almost two months on Tuesday. All three main indices in the United States closed more than 3 percent, as a lack of meaningful advances in trade relations between the US and China dampened investors’ views while an inverted yield curve raised concerns for a recession.
China’s positive comments on Wednesday helped calm the nerves of investors, says Kay Van-Petersen, global macro strategist at Saxo Capital Markets Pte. However, profits can not last long, as both “China and the United States seem confused about the trade agreement,” he said.
In Europe, stocks fell on Wednesday, with most industry groups in the red in the recession save and as traders watching Brexit’s business negotiations.
US Markets will be closed Wednesday for the National Day of Mourning for former President George H.W. Bush. The Federal Reserve Board is still planning to release Beige Book at 2:00 AM EST, even though its offices are closed.
(An earlier version of this story was corrected to fix time in the second paragraph.)
To contact the editors responsible for this story: Divya Balji on [email protected], Paul Jarvis
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