The birds of ill omen are proven wrong, once more. As a matter of fact U.S. Stocks are pointing to another up session as the fog surrounding the trade war between the U.S. and China seems to be lifting.
The two sides have in recent days softened their stance.
Dow Industrial futures are gaining 0.2 percent, S&P 500 futures are adding the same and Nasdaq futures are up by 0.3 percent.
Investors drew encouragement from China’s decision to exempt some U.S. products from a recent round of tariffs.
As a gesture of “goodwill,” President Trump said on Twitter on Wednesday that the United States agreed to a two-week delay in a planned increase in tariffs on some Chinese imports.
The moves could indicate that both sides are settling in for an extended conflict even as they prepare for talks in Washington aimed at ending the dispute that threatens global economic growth.
On Wednesday, the S&P 500 rose 0.7 percent, the first time it has finished above 3,000 points since July 30. The Dow Jones Industrial Average gained 0.8 percent, while the Nasdaq picked up 1.1 percent.
In Asia on Thursday, Japan’s Nikkei gained 1.1 percent, Hong Kong’s Hang Seng index slipped 0.2 percent and China’s Shanghai Composite picked up 0.2 percent.
Expectations are that the European Central Bank will kick off another wave of monetary easing by global central banks on Thursday morning.
Investors continue to expect the Federal Reserve will cut interest rates at its meeting next week in another bid by the central bank to help maintain U.S. economic growth.
The Fed raised its benchmark interest rate in July by a quarter point. That was its first hike in a decade.