Stocks – U.S. Futures Rise on Reports of Trade Progress
Investing.com – U.S. futures rose on Tuesday after reports that China has allowed some companies to buy millions of tons of U.S. soybeans without import tariffs, bolstering hopes of a more substantial agreement between the two sides when they meet next month.
The report from Bloomberg helped sustain investor confidence, as China and the U.S. continue to play a game of cat and mouse with regard to their trade dispute. U.S. Treasury Secretary Steven Mnuchin confirmed that talks between high-level officials will continue as expected in two weeks.
rose 23 points or 0.3% by 6:43 AM ET (10:43 GMT), while gained 64 points or 0.2% and S&P 500 futures were up 7 points or 0.3%.
Starbucks (NASDAQ:) was up 0.6% after the EU’s top court upheld its appeal against a landmark antitrust ruling with regard to its tax arrangements in the EU. That also helped boost Apple (NASDAQ:), which has a similar and much bigger case outstanding. Apple rose 0.8%.
Facebook (NASDAQ:) gaining 0.5%. Tesla (NASDAQ:) inched up 0.2%, while Amazon.com (NASDAQ:) was up 0.5%.
Elsewhere, Netflix (NASDAQ:) fell 0.2% as it continued to be overshadowed by worries about rising competition from alternative streaming providers such as Apple (NASDAQ:), Walt Disney (NYSE:), and others.
On the economic front, the non-manufacturing figures for September come out at 8:30 AM ET, with and the survey later in the session.
Nike (NYSE:) is expected to report its earnings for the fiscal first quarter after the closing bell.
In commodities, futures fell 1.2% to $57.92 ahead of an expected speech UN General Assembly speech from President Donald Trump, where he is expected to press for action against Iran in response to the attacks on Saudi Arabian oil installations 10 days ago. were down 0.2% to $1,528.95 a troy ounce, while the , which measures the greenback against a basket of six major currencies, rose 0.1% to 98.268.
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