Aug 30, 2019

U.S. Market | Dow Futures Indicator: Dow futures up more than 100 points, reversing earlier losses

Sam Meredith

U.S. stock index futures were higher Friday morning, as the world’s two largest economies showed a willingness to resolve their long-running trade dispute.
At around 05:30 a.m. ET, Dow futures rose 138 points, indicating a positive open of more than 159 points. Futures on the S&P and Nasdaq were both higher, reversing earlier losses.
Market focus is largely attuned to global trade developments, after President Donald Trump said that some trade discussions had taken place on Thursday, with more scheduled over the coming weeks.
China’s commerce ministry said Thursday it was willing to calmly resolve the long-running trade dispute, but added it was against any further escalation in tensions. The comments spurred hopes for progress in talks.
Trade tensions have dominated market sentiment for much of this year, with wild swings in global markets as rhetoric between world’s two largest economies fluctuates from conciliatory to combative.
At the same time, economic data has also pointed to a global growth slowdown, ramping up concerns of a possible recession.
On the data front, personal income figures for July will be released at around 8:30 a.m. ET. Consumer spending for July and the latest monthly and annualized core personal consumption expenditures (PCE) index will be released at the same time.
Chicago PMI (Purchasing Managers’ Index) and consumer sentiment data for August will follow slightly later in the session.
In corporate news, Campbell Soup and Big Lots are among the companies scheduled to publish their latest quarterly results before the opening bell.

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