U.S. stock futures are surging on Sunday evening, following greater clarity and easing trade tensions between the United States and China over the weekend, following the summit between President Donald Trump and Chinese President Xi Jinping in South Korea last week.
The S&P 500 Futures are up 0.27%, or 18.50 points, trading at 6,892.50, followed by Nasdaq Futures, up 86 points, or 0.33%, trading at 26,089.00, and finally Dow Futures at 47,815.00, up 91 points, or 0.19%.
The small-cap-focused Russell 2000 Futures are similarly up 0.25%, or 6.20 points, currently trading at 2,496.10.
US-China Reach Economic And Trade Deal
A White House fact sheet published on Saturday hails the trade and economic deal reached by Trump as “a massive victory,” safeguarding the U.S. economy and national security while “putting American workers, farmers, and families first.”
The deal includes commitments to halt the flow of chemicals used to make fentanyl into the U.S., the elimination of China’s proposed export restrictions on rare earths, and an end to the nation’s retaliation against American semiconductor companies and soybean farmers.
See Also: Nvidia’s Jensen Huang Downplays Trump’s National Security Concern, Says China Has ‘Plenty’ Of Its Own AI Chips: ‘Foolish To Underestimate’
Trump said, “We made a really good deal,” adding that it was good for the Chinese as well, in an interview with CBS News over the weekend.
Gold, US Dollar Remain Flat
The U.S. Dollar Index (DXY) is currently flat, trading at 99.811, while spot gold prices are up 0.27% or $10.59, trading at $3,995.12 per ounce.
Markets on Monday will be awaiting the earnings results of Palantir Technologies Inc. (NASDAQ:PLTR), alongside those of Advanced Micro Devices (NASDAQ:AMD) later in the week, as a way to gauge the AI trade.
Photo Courtesy: Below the Sky on Shutterstock.com
Read More:
- China Reportedly Resumes US Soybean Purchases Ahead Of Trump-Xi Meeting
