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* Trump says deal "potentially very close" - Fox News
* China says wants to work out a trade deal
* Nordstrom jumps on 2019 forecast raise
* Tesla slips after unveiling electric pickup truck
* Futures up: Dow 0.2%, S&P 0.2%, Nasdaq 0.25%
(Adds comments, updates market action)
By Arjun Panchadar
Nov 22 (Reuters) - Wall Street was set to open higher on
Friday as latest comments from China and U.S. President Donald
Trump lifted hopes of a trade deal after conflicting headlines
this week knocked stock indexes off record highs.
U.S. stock index futures rose in volatile trading as Trump
told Fox News that a trade deal with China is "potentially very
close". Beijing had said earlier it wanted to work out an
initial agreement with Washington, following reports that a
truce could be delayed to 2020. Global shares have retreated from near-two year highs scaled
in recent weeks on hopes of a resolution to the trade war that
has dented business sentiment, curtailed investment and hurt
economic growth. MKTS/GLOB
A report on Friday said a hedge fund founded by billionaire
Ray Dalio has bet more than $1 billion that stock markets around
the world will fall by March 2020. The next date in the trade spat to watch is Dec. 15, when
U.S. tariffs kick in on Chinese goods including holiday gift
items such as electronics and Christmas decorations.
"It's less likely the deal will be signed by the end of this
year, but you may see the Dec. 15 tariffs postponed," said Scott
Brown, chief economist at Raymond James in St. Petersburg,
Florida.
The benchmark S&P 500 index is on course to end the week
with its first decline in seven, while the Nasdaq is eyeing its
first weekly drop in eight. A largely better-than-expected
corporate earnings season also contributed to the rally.
Investors now await U.S. manufacturing and services sector
data, as well as a consumer sentiment survey by the University
of Michigan to gauge the fallout of the dispute on the domestic
economy, which has so far proven fairly resilient.
At 9:03 a.m. ET, Dow e-minis 1YMcv1 were up 55 points, or
0.2%. S&P 500 e-minis EScv1 were up 6.25 points, or 0.2% and
Nasdaq 100 e-minis NQcv1 were up 20.75 points, or 0.25%.
Among stocks trading premarket, Nordstrom Inc JWN.N jumped
8.8% after the retailer raised its 2019 forecast and reported
third-quarter profit above expectations. Gap Inc GPS.N rose 3.2% after edging past lowered
expectations for quarterly profit, and reiterated its plan to
separate Old Navy. However, shares of Tesla Inc TSLA.O dropped 4% after the
automaker unveiled its electric pickup truck.