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Sep 20, 2018

Before the bell: Wall Street set for a positive open as US-China trade spat takes a backseat I CNBC


Alexandra Gibbs


U.S. stock index futures pushed out slight gains ahead of Thursday's open, building upon the strong session seen on Wall Street yesterday.
Around 7 a.m. ET, Dow Jones Industrial Average futures rose 44 points, indicating a gain of 64.24 points at the open. S&P 500 and Nasdaq 100 futures also pointed to small increases at the open.
Traders work on the floor of the New York Stock Exchange on July 12, 2018 in New York City.
Spencer Platt | Getty Images 
Traders work on the floor of the New York Stock Exchange on July 12, 2018 in New York City.
The moves in pre-market trade came after Wall Street closed Wednesday's session on a strong note, with the Dow soaring more than 150 points.
Investors continue to monitor the trade rift between the U.S. and China. On Monday, the U.S. administration announced that it would inflict 10 percent tariffs on $200 billion worth of Chinese imports, which would rise to 25 percent by year-end.
China retaliated Tuesday by announcing levies targeting over 5,000 American products worth $60 billion and to go into effect next week. The country has also filed a complaint with the World Trade Organization about the U.S.' latest round of duties.
Economic data due Tuesday includes jobless claims and the Philadelphia Fed's Manufacturing Business Outlook Survey at 8:30 a.m. ET, followed by existing home sales and leading indicators at 10 a.m. ET.
In corporate news, Darden Restaurants, Micron and Thor Industries will publish their latest earnings results.
No members of the U.S. Federal Reserve are scheduled to deliver remarks.