US stock futures rose Sunday after US and Chinese representatives agreed on a framework for a trade deal, potentially averting a tariff hike to 157% on Chinese goods and as investors expect another interest rate cut from the Federal Reserve.
Dow futures were up 0.65%, S&P 500 futures rose 0.74% and Nasdaq futures climbed 0.92%, as of 6:29 p.m. ET.
The Dow closed above 47,000 for the first time Friday after September’s Consumer Price Index data showed annual inflation had heated up but less than expected. The news boosted expectations that the central bankers will cut interest rates at the policy meetings this week.
It was a positive sign for the market, which underwent a massive sell-off after trade tensions revved up between the two global superpowers earlier this month.
In Asia, major stock markets also responded positively to the news. Japan’s benchmark Nikkei 225 index rose 1.9% in early hours of trading on Monday. South Korea’s Kospi jumped 2.4%. Hong Kong’s Hang Seng index was also trading up 1.28% in early trading.
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