Stocks- U.S. Futures Rise as Investors Look Ahead to Data
U.S. futures pointed to a slightly higher opening bell on Friday as investors monitored trade developments and looked ahead to a flurry of data.
The S&P 500 futures rose 3 points or 0.13% to 2,909.0 as of 6:50 AM ET (10:50 GMT) while Dow futures gained 30 points, or 0.11%, to 26,190.0. Meanwhile tech heavy Nasdaq 100 futures increased 23 points, or 0.31%, to 7,587.75.
Trade talk efforts between the U.S. and China cooled after U.S. President Donald Trump tweeted that the country “was under no pressure to make a deal with China.”
China accepted the invitation for fresh trade talks later this month in an effort to stave off new tariffs but an editorial in the state-owned newspaper China Daily said that Beijing would not “surrender to the U.S. demands.”
Investors will also be looking closely at upcoming economic data, after inflation numbers came in lower than expected on Thursday.
Retail sales, import and export prices come out at 8:30 AM ET (12:30 GMT), while industrial production is released at 9:15 AM ET (13:15 GMT) and the Michigan Consumer Sentiment for September is expected at 10:00 AM ET (14:00 GMT).
Semiconductor Micron Technology Inc (NASDAQ:MU) was among the top gainers in premarket trading, rising 2.02%, while Microsoft (NASDAQ:MSFT) gained 0.34% and Facebook (NASDAQ:FB) increased 0.68%. Chinese e-commerce firm Alibaba (NYSE:BABA) jumped 1.51% while Jd.Com Inc Adr (NASDAQ:JD) was up 1.44%.
Elsewhere Tesla (NASDAQ:TSLA) inched down 0.02% while medical marijuana company Tilray Inc (NASDAQ:TLRY) slumped 8.98% after Politico reported that Canadians who work in the industry or invest in the sector could risk a lifetime ban on travel to the U.S.
In Europe stocks were higher. Germany’s DAX rose 30 points or 0.25% while in France the CAC 40 was up 15 points or 0.29% and in London the FTSE 100 increased 17 points or 0.24%. Meanwhile the pan-European Euro Stoxx 50 gained 4 points or 0.14% while Spain’s IBEX 35 inched up 8 points or 0.09%.
In commodities, gold futures rose 0.25% to $1,211.20 a troy ounce while crude oil futures increased 0.36% to $68.84 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, decreased 0.06% to 94.47.