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* Washington sets China trade deal terms - sources
* U.S., Chinese tariffs scheduled to take effect on Dec 15
* Adobe rises after Q4 revenue, profit beat
* Oracle slips on quarterly revenue miss
* Futures up: Dow 0.43%, S&P 500 0.37%, Nasdaq 0.49%
By Shreyashi Sanyal
Dec 13 (Reuters) - U.S. stock index futures rose on Friday
on hopes that the United States and China could reach an initial
deal to end their trade war after Washington set its terms for
an agreement, just days before fresh levies on Chinese goods
kick in.
The United States has offered to suspend some tariffs on
Chinese goods and cut others in exchange for Beijing's buying
more American farm goods, U.S. sources said, although there has
been no official announcement on the deal from either side.
China, however, has remained silent, raising questions over
whether the two countries can agree to a truce before a new
round of tit-for-tat tariffs takes effect on Sunday.
Still, a positive tone on trade so far helped Wall Street's
main indexes touch record levels on Thursday, while futures also
hit all-time highs earlier in the session on Friday.
Three interest rate cuts this year by the U.S. Federal
Reserve, along with better-than-expected corporate earnings,
have pushed the S&P 500 index .SPX up more than 26% so far in
2019, putting it on track for its best annual performance in six
years.
Shares of chipmakers that are heavily exposed to China for
revenues were up in premarket trading. Micron Technology Inc
MU.O , Advanced Micro Devices Inc AMD.O and Nvidia Corp
NVDA.O rose 1%.
Apple Inc AAPL.O , often considered sensitive to news
around trade, also edged up 0.5%.
At 7:04 a.m. ET, Dow e-minis 1YMcv1 were up 122 points, or
0.43%. S&P 500 e-minis EScv1 were up 11.75 points, or 0.37%
and Nasdaq 100 e-minis NQcv1 were up 41.75 points, or 0.49%.
Data at 8:30 a.m. ET from the U.S. Commerce Department is
expected to show retail sales rose 0.5% last month, after having
gained 0.3% in October.
Adobe Inc ADBE.O rose 3% after the company beat analysts'
estimates for fourth-quarter revenue and profit.
Oracle Corp ORCL.N slipped 2.2% as the company fell short
of quarterly revenue estimates.