US futures point to a positive open as investors shake off trade concerns
- April 5, 2018
- Posted by: consortiumconsultancy
- Category: Uncategorized
The moves in premarket trade come after a wild trading day on Wall Street Wednesday. The Dow Jones industrial average closed up over 200 points, having rallied more than 700 points from its session low. Other major indexes erased losses to finish on a positive note too.
Markets have been on edge during recent sessions amid concerns of a potential trade war between China and the U.S. On Wednesday, China announced fresh tariffs on 106 U.S. products, including cars, whisky and soybeans — less than 24 hours after the U.S. administration issued a list of Chinese imports that it would target.
Stocks bounced back however as the U.S. administration tried to play down concerns over a trade war between the two major consumer nations.
Another topic of key importance to investors is surrounding the topic of technology. While market watchers will be keeping an eye on what President Donald Trump says about Amazon, the main talk of the town is likely to be Facebook.
On Wednesday, the social media giant stated that it believes the majority of Facebook users who had a certain search function authorized, will likely have had their profile data scraped by third-party groups.
This comes as Facebook also admitted that political analytics firm Cambridge Analytica had accessed data from up to 87 million users, compared to previous reports of just 50 million.
Switching focus to economic data, Thursday is set to deliver the latest in jobless claims and international trade, both of which are due out at 8:30 a.m. ET. On the earnings front, Monsanto, RPM International, and Conn’s are all scheduled to report their latest financial updates.
Looking to the central banking space, the second and final day of the Federal Reserve Bank of Chicago’s annual risk conference takes place.
Meantime, two speeches by Fed officials are due to take place, one from Chicago Fed President Charles Evans at the risk conference in Chicago, and one from Atlanta Fed President Raphael Bostic in Florida, who is set to speak at Financial Literacy Day 2018 in Sarasota.
Following the positive bounce back on Wall Street, international markets were provided a lift Thursday, with Europe and Asia both trading higher.