US stock futures traded slightly up as Wall Street digested the latest signs President Trump’s trade war could be entering a more conciliatory phase.
Futures attached to the Dow Jones Industrial Average (YM=F) traded around the baseline. Contracts on the benchmark S&P 500 (ES=F) inched up 0.1% and tech-heavy Nasdaq 100 futures (NQ=F) climbed 0.2%.
On Thursday, stocks rose for a second straight day after Trump announced a trade deal with the UK, his first since imposing sweeping tariffs on US trade partners last month.
Read more: The latest on Trump’s tariffs
“You better go out and buy stock now,” Trump said, pointing to the prospect of more trade negotiations as well as a tax bill making its way through Congress.
The president also maintained an optimistic tone about upcoming trade talks with China, saying they would be “substantive.” “It’s coming down,” he added of the 145% tariff on Chinese imports.
Although Wall Street’s spirits were lifted by the UK deal and Trump’s comments on China, markets continue to be whipsawed by his vacillating stance on trade, and this week was no exception.
On Monday, stocks retreated from a historic run of gains after Trump threatened new tariffs on foreign-shot movies and said he had no plans to speak with Chinese President Xi. The slide deepened on Tuesday.
With US-China talks set to begin this weekend, the only clear certainty for next week is that any signs of progress — or a lack thereof — will influence market sentiment.
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