US STOCKS-Futures up on hopes of progress in trade war; Boeing shares slip
Wall Street looked set to start the week on an upbeat note on Monday, as investors hoped for progress in resolving the U.S.-China trade war, but a fall in Boeing's shares kept a lid on early gains.
Chinese Vice Premier Liu He said on Saturday that Beijing would work with Washington to address core concerns, adding to optimism from President Donald Trump's comments on Friday that he expected a trade deal to be signed by mid-November. Microsoft Corp rose 0.8% in premarket trading after German business software group SAP said it had signed a three-year cloud partnership with the company.
However, Boeing Co was set to extend a slide from the previous session as two brokerages downgraded the stock after leaked messages from a former test pilot showed he might have unintentionally misled regulators about the safety of the grounded 737 MAX jet. Shares of the planemaker fell nearly 2%.
Wall Street has been steadily recovering after a rough start to the month on signs of progress in talks between the world's two largest economies. The benchmark S&P 500 index ended Friday with its second weekly gain, while the Nasdaq rose for three weeks in a row.
At 7:19 a.m. ET, Dow e-minis were up 29 points, or 0.11%. S&P 500 e-minis were up 6.25 points, or 0.21% and Nasdaq 100 e-minis were up 21 points, or 0.27%. Investors are now gearing up for another batch of reports after a strong start to the third-quarter earnings season last week, with big technology companies including Microsoft Corp and Intel Corp set to report their earnings this week.
Analysts project S&P 500 earnings dropping 3.1%, compared with a year earlier, marking the first contraction since 2016, according to Refinitiv data. But of the 73 companies that have reported results so far, nearly 84% have topped analysts' estimates.
Oilfield services provider Halliburton Co dipped 0.4% after reporting a 32% slump in third-quarter profit, hit by a slowdown in shale drilling in North America, its biggest market. Drug distributors Cardinal Health Inc fell 3% and McKesson Corp slipped 4.1%, ahead of a trial over the U.S. opioid epidemic after drug companies and local governments failed to reach a settlement on Friday.
Also Read: China Vice Premier Liu will travel to U.S. for trade talks on Oct.10-11
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
(Bloomberg) -- Asian stocks looked set to start the week higher after signs of progress in U.S.-China trade negotiations lifted U.S. equities Friday and sent Treasury yields higher, though sentiment may be
(Bloomberg) -- Asian stocks looked set to start the week with gains after signs of progress in U.S.-China trade negotiations lifted U.S. equities Friday and sent Treasury yields higher, though sentiment may
Chicago | Reuters - U.S. lean hog futures rose more than one per cent on Friday, following broad strength in commodities tied to hopes for a U.S.-China trade deal, along with firm cash values for
LONDON (Reuters) - World shares on Friday basked in optimism over signs of a detente in the U.S.-China trade war and hopes that Britain was moving closer to a smooth exit from the European Union.
Stocks notched broad gains Wednesday on Wall Street as investors regained some of their optimism about the prospects for progress in the trade war between the U.S. and China. A day after escalating trade tensions led
By U.S. stocks fell Tuesday, though were off session lows, helped by reassurances on monetary policy by Federal Reserve chairman Jerome Powell, after earlier reports on the progress of U.S. - China trade relations
Futures on the Dow and broader U.S. stock market declined sharply in overnight trading Monday amid reports that Beijing had narrowed the scope for upcoming trade talks with the United States, dashing any hope of
The week of trade for the Dow Jones ended brightly on Friday after some better than expected economic data and hopes of progress in the trade war with China. All this good work may be
More News in Beijing
Editorial (Photo by Craig Barritt/Getty Images for St. Jude Children's Research Hospital) Actress Jenna Dewan admitted she was "blindsided" by ex-husband Channing Tatum's new romance. Dewan revealed was shocked to find out that Tatum had
Entertainment (Photo by Mike Coppola/Getty Images) Dave Chappelle got everyone's attention Friday when reports started surfacing that the famous comedian was planning to make several surprise shows this weekend in Texas. Fans of the 46-year-old
Business (Shutterstock/tomkawila) Johnson & Johnson (J&J) recalled a single lot of baby powder on Wednesday, citing concerns that it may contain asbestos. This recall comes after an FDA test revealed sub-trace amounts of chrysotile asbestos
Entertainment (Photo by Christopher Polk/Getty Images) Actress Helen Hunt was reportedly hospitalized after a car crash Wednesday afternoon. Hunt, 56, was a passenger in an SUV that was t-boned in a Los Angeles intersection, according
Editorial Sidney Crosby (Credit: Screenshot/Twitter Video https://twitter.com/nhlonnbcsports/status/1184617541345468417?s=21) Pittsburgh Penguins superstar Sidney Crosby scored a mind-boggling goal Wednesday night against the Colorado Avalanche. The NHL sensation sliced through the defense towards the net with seemingly no