Stock market news live updates: Stock futures jump after officials tout progress on US-China trade deal
Stock futures rose Tuesday morning as optimism that terms of an early-phase US-China trade deal would remain intact despite rising tensions elsewhere between the two countries.
Office of the US Trade Representative Monday night. This came after U.S. Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He met via videoconference for a formal review of the multi-part agreement, which had helped bring a two-year trade war between the two nations to a ceasefire.” data-reactid=”17″>Officials from both Washington and Beijing “see progress and are committed to taking the steps necessary to ensure the success” of the Phase One trade agreement signed between the two nations in January this year, according to a statement from the Office of the US Trade Representative Monday night. This came after U.S. Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He met via videoconference for a formal review of the multi-part agreement, which had helped bring a two-year trade war between the two nations to a ceasefire.
emergency authorization for an investigational Covid-19 treatment, and a report that the Trump administration was considering fast-tracking approval for a UK experimental coronavirus vaccine.” data-reactid=”22″>Contracts on the three major indices rallied on the news, with the S&P 500 and Nasdaq on track to add to their record levels from Monday. These advances had in turn been driven after investors eyed a new emergency authorization for an investigational Covid-19 treatment, and a report that the Trump administration was considering fast-tracking approval for a UK experimental coronavirus vaccine.
CRM) is set to replace Exxon Mobil (XOM), with the oil major having been an index component for nearly a century. Honeywell International (HON) will replace Raytheon Technologies (RTX) and Amgen (AMGN) will replace Pfizer (PFE). Each of the companies joining the index added about 4% in late trading, while those exiting the index declined.
Snowflake, a cloud data platform expected previously speculated to go public this year, following a funding round that valued it at $12.4 billion in February. The company, while unprofitable, posted revenue growth that more than doubled over last year. Other software companies that filed their go-public prospectus on Monday included Unity Software, Sumo Logic and JFrog.” data-reactid=”24″>Meanwhile, a handful of software companies filed to go public on Monday, as investor appetite for risk assets – and tech stocks with high-growth potential especially – remained elevated. Among the companies filing was Snowflake, a cloud data platform expected previously speculated to go public this year, following a funding round that valued it at $12.4 billion in February. The company, while unprofitable, posted revenue growth that more than doubled over last year. Other software companies that filed their go-public prospectus on Monday included Unity Software, Sumo Logic and JFrog.
ADSK), Salesforce (CRM) and Intuit (INTU) poised to report quarterly results after market close.
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7:25 a.m. ET Tuesday: Stock futures jump as trade optimism buoys markets
Here were the main moves in markets, as of 7:25 a.m. ET:
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S&P 500 futures (ES=F): 3,442.5, up 15.25 points or 0.44%
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Dow futures (YM=F): 28,439.00, up 200 points, or 0.71%
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Nasdaq futures (NQ=F): 11,639.5, up 3.25 points, or 0.03%
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Crude (CL=F): +$0.11 (+0.26%) to $42.73 a barrel
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Gold (GC=F): -$4.90 (-0.25%) to $1,934.30 per ounce
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10-year Treasury (^TNX): +4.1 bps to yield 0.687%
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6:21 p.m. ET Monday: Stock futures drift sideways
Here were the main moves in equity markets, as of 6:21 p.m. ET:
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S&P 500 futures (ES=F): 3,427.75, up 0.25 points or 0.01%
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Dow futures (YM=F): 28,230.00, down 9 points, or 0.03%
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Nasdaq futures (NQ=F): 11,639.25, up 3 points, or 0.03%
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