Stocks looked set to close the week in the green after President Donald Trump said the U.S. and China had signed a trade deal, bolstering hopes that a flurry of similar agreements would come before Washington’s July 9 deadline for reimposing tariffs.
Futures tracking the Dow Jones Industrial Average were up 145 points, or 0.3%. S&P 500 futures rose 0.3% and contracts tied to the tech-heavy Nasdaq 100 gained 0.4%, with both indexes on the brink of setting record highs.
A week can be a long time in markets, and that’s been the case over the past few trading sessions, with investors’ focus shifting back to tariffs and Federal Reserve interest-rate cuts after the cease-fire between Iran and Israel eased fears that the crisis in the Middle East would spark a surge in oil prices.