EU and US could reach trade deal this weekend - Reuters
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* Futures up: Dow 0.30%, S&P 0.33%, Nasdaq 0.36%
By Ambar Warrick
Sept 24 (Reuters) - U.S. stock index futures rose on Tuesday
as Washington confirmed that trade negotiations with China would
resume in two weeks, after the cancellation of a planned visit
by Chinese delegates to U.S. farms last week fueled uncertainty
over the talks.
Treasury Secretary Steven Mnuchin said on Monday he and
Trade Representative Robert Lighthizer would meet with Chinese
Vice Premier Liu He for talks in early October, raising optimism
over a possible breakthrough in the prolonged trade war, which
has been a drag on global economic growth. Mnuchin also clarified that the Trump administration had
requested Chinese officials to cancel a visit to U.S. farming
regions last Friday. The cancellation had caused a sharp
pullback in U.S. stocks on the day.
Trade-sensitive chipmaker stocks rose, with Intel Corp
INTC.O , Nvidia Corp NVDA.O and Advanced Micro Devices Inc
AMD.O advancing between 0.5% and 1.1% in premarket trade.
Even as trade talks remain the primary focus, investors will
also watch the Conference Board's U.S. consumer confidence
reading for September at 10:00 a.m. ET (1400 GMT), which is
expected to come in at 133.5, from a reading of 135.1 in August.
The reading will follow mixed economic data from the United
States and dismal manufacturing surveys out of the euro zone on
Monday that added to investor apprehensions over slowing global
growth.
Still, the S&P 500 .SPX came within striking distance of
its July all-time high last week after the Federal Reserve cut
interest rates and left the door open for further easing. The
index is now 1.2% away from that peak.
Data due later this week, which includes the Fed's preferred
gauge for inflation, will be pivotal in determining U.S.
economic health ahead of the third-quarter earnings season and
the central bank's next policy meeting in October.
At 7:00 a.m. ET, Dow e-minis 1YMcv1 were up 80 points, or
0.3%. S&P 500 e-minis EScv1 were up 9.75 points, or 0.33% and
Nasdaq 100 e-minis NQcv1 were up 28.5 points, or 0.36%.
Iphone maker Apple Inc's AAPL.O shares gained 0.8% after
Jefferies assumed coverage with a "buy" rating.
Shares of video streaming platform Netflix Inc NFLX.O fell
0.6% after Pivotal Research cut its price target.
Nike Inc NKE.N rose 0.5%, ahead of the world's largest
sportswear maker's first-quarter results after the bell.