U.S. stock index futures rose on Tuesday, according to Reuters, adding to Wall Street’s sharp rebound on Monday, as fears of a trade war between the United States and China eased. President Donald Trump’s plans to impose tariffs on goods from China, which holds a $375 billion trade surplus with the United States, had rattled global markets last week.
“By 7:23 am ET (11:23 GMT), S&P 500 e-minis EScv1 were up 16.25 points, Nasdaq 100 e-minis NQcv1 were up 68.25 points and Dow e-minis 1YMcv1 were up 145 points. Wall Street recorded its best day in 2-1/2 years on Monday and the Dow Jones Industrial Average .DJI saw its third-biggest point gain ever. The S&P 500 .SPX ended up 2.72 percent, the Dow 2.88 percent and the Nasdaq .IXIC 3.26 percent, with all three indexes registering their biggest percentage gains since August 2015. Top Trump administration officials are asking China to cut tariffs on imported cars, allow foreign majority ownership of financial services firms and buy more U.S.-made semiconductors to avoid tariffs on Chinese goods and a potential trade war.”
Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer are in talks with China, according to source closely related to Reuters.
Facebook (FB.O) was up nearly 1 percent after being hammered for days following the outcry over the social media company’s handling of users’ data. The company now faces an investigation by the U.S. Federal Trade Commission on how it allowed data of 50 million users get into the hands of a political consultancy, claims Reuters.