N American Morning Briefing: Stocks to Rise on Signs Trump Could Soften Huawei Stance
Today 5:42 AM ET (Dow Jones)Print
N American Morning Briefing: Stocks to Rise on Signs Trump Could Soften Huawei Stance
DJIA 25608.00 144.00 0.57%
S&P 500 2835.00 16.75 0.58%
Nasdaq 100 7351.50 41.75 0.56%
FTSE 100 7276.88 45.84 0.63%
Xetra DAX 12060.11 107.70 0.90%
CAC40 5331.93 50.56 0.96%
Nikkei 21117.22 -33.92 -0.16%
Shanghai 2852.99 0.48 0.02%
Hang Seng 27353.93 86.80 0.32%
-Stock futures gain; EUR/USD 1.1181-84; 10-year Treasury yield 2.316%; Nymex $58.66; gold futures $1282.70
U.S. stock futures rose Friday on some encouraging news on the trade front, with reports President Donald Trump may ease up on restrictions against Huawei Technologies Inc. as part of a bigger trade deal with China.
On Thursday, The Dow Jones Industrial Average dropped 1.1%, while the S&P 500 index fell 1.2%. The tech-heavy Nasdaq sank 1.6%.
Investors appeared to be taking a breather from a week of mostly unsettling headlines linked to trade tensions, as fallout from a U.S. ban on Chinese tech group Huawei Technologies Inc. reverberated across global markets. Thursday's losses stemmed from a growing view that the U.S. and China were moving further apart on a trade deal.
Calming the situation somewhat, Trump said Thursday that the U.S. could ease up on its ban against Huawei as "some part" of a wider trade deal with the country, though he reiterated the Chinese company was "very dangerous" from a security standpoint.
At the same time, a separate report said the Commerce Department was considering tariffs on countries that undervalued their currencies to the disadvantage of U.S. companies. Currently no country in the world meets that specific criteria, but the U.S. has long viewed China as a manipulator of its yuan.
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