US stock index futures rose on Thursday, putting the stock benchmarks in a position that continued to grow after the signing of a formal US-China ceasefire, which was concluded on Wednesday at a White House signing ceremony.
Investors are now looking forward to a number of economic reports, including retail sales and jobless claims, as well as a series of new quarterly results, led by Morgan Stanley.
How did the benchmarks develop?
Futures for the Dow Jones Industrial Average
YMH20, + 0.24%
traded 67 points, or 0.2% higher, at 29,096 points, with the blue-chip index trying to extend its three-day surge after closing at a record high that was above the psychologically significant 29,000 points a day ago. S&P 500 index futures
ESH20, + 0.29%
were 9.70 points or 0.3% higher than the Nasdaq-100 (3,303.50)
NQH20, + 0.38%
rose 32.75 points or 0.4% to 9,092.75.
Wednesday is the Dow
DJIA, + 0.31%
rose 90.55 points, or 0.3%, to 29,030.22, the S&P 500 index
SPX, + 0.19%
gained 6.14 points or 0.2% and closed at a record 3,289.29, while the Nasdaq Composite Index rose
COMP, + 0.08%
gained 7.37 points or 0.1% and closed at 9,258.70.
What drove the market?
According to the 96-page Phase 1 trade agreement signed in the East Room of the White House on Wednesday, China is expected to buy $ 95 billion more in US commodities than in 2017, but investors have some doubts that the Partial agreement will lead to permanent agreement as the world's two largest economies move into the next negotiation phase.
David Madden, market analyst at CMC Markets UK, said in a research report on Thursday that "now that the first phase of the agreement is official, the second phase is under discussion".
The Wall Street Journal writes that the eight-part agreement, which ends the 18-month trade dispute, provides for US tariffs on Chinese goods to the tune of around $ 370 billion, or about three quarters of Chinese imports to the United States, which will be eliminated The tariffs are likely to be part of the talks, which "should start fairly soon, but will only end after the US presidential election in November."
Outside of trading relationships, market participants agree on a result Morgan Stanley
MRS, + 0.15%.
the Bank of New York Mellon Corp.,
and CSX Corp.,
CSX, + 0.44%,
What data is in focus?
8:30 a.m. Eastern Time
- Unemployment claims for the week ending January 11, with new unemployment claims of 215,000, according to consensus estimates by Econoday.
- Philadelphia Fed Business Outlook Survey or Philly Fed for January. The estimates refer to a value of 3.0.
- Retail sales expected in December at 0.4%.
- Import and export prices for December. Econoday estimates monthly growth of 0.3%.
- According to Econoday, company inventories are expected to decrease by 0.1 percent
- The National Association of Home Builders' housing market index for January is expected to show a value of 75
after 4 p.m.
- A report on the Federal Reserve's balance sheet is due at 4:30 p.m., previous to $ 4.150 trillion.
Which titles are in focus?
Shares of Signet Jewelers Ltd,
SIG, + 2.33%
Before the market launch, sales were significantly higher after the company made an optimistic sales forecast.
Southwest Airlines Co,
LUV, + 0.99%
said it removed that Boeing Co.'S
By June 6, Max had 737 flights. Southwest's shares in premarket trading rose 0.4%, while Boeing's shares rose slightly by 0.3%.