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Mar 26, 2018

CNBC | U.S. Futures Point to a triple-digit rise at the open as trade concerns ease on March 26,2018.

US futures point to a triple-digit rise at the open, as trade concerns ease

Alexandra Gibbs

U.S. stock index futures posted major gains ahead of Monday's open, bouncing back from the sharp losses seen during Friday's session.
Around 6 a.m. ET, Dow futures indicated a rise of more than 350 points at the open. The Nasdaq and the S&P 500 futures also indicated a positive open for their respective markets.
Commuters exit a train at a Wall Street subway station near the New York Stock Exchange. Michael Nagle | Bloomberg | Getty Images
Commuters exit a train at a Wall Street subway station near the New York Stock Exchange.
The moves in pre-market trade come after Wall Street finished Friday's session deep in the red, with the Dow Jones industrial average dropping more than 400 points by the close — closing at its lowest level since November and finishing in correction territory, as it was 11.6 percent down from its 52-week high.
Looking to Monday's session, markets overseas recovered during trade, as concerns over trade tariffs alleviated somewhat. In Asia, some indexes rose after news surfaced that the U.S. had agreed to excuse South Korea from steel levies. Meantime in Europe, stocks were slightly higher as investors tried to shake off any worries surrounding a potential trade war.
Last week, President Donald Trump signed an executive memorandum that would inflict tariffs on Chinese imports — of up to $60 billion. China retaliated with their own set of levies, drawing up a list of 128 U.S. products that could be possible retaliation targets.
Consequently investors will be eyeing the subject over the coming days to see if trade tensions ease or become more aggravated between the U.S. and other nations involved.

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On the data front, the Dallas Fed's Texas Manufacturing Outlook survey is expected to come out at 10:30 a.m. ET. In earnings, Paychex and Red Hat are due to report their latest financial figures.
Social media firms continue to be under the radar, as abuse of people's data remains a key topic of discussion. Last week, reports emerged alleging that Cambridge Analytica, an analytics company, had gathered data from 50 million Facebook profiles without the permission of its users. While Facebook have since come out to apologize and try to rectify the matter, concerns remain.
On the central banking front, members of the U.S. Federal Reserve are due to deliver speeches at respective events Monday, including one by Fed Vice Chair Randal Quarles, who is due to speak at the HOPE Global Forum annual meeting in Atlanta.