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Stock Market

Stocks - U.S. Futures Surge on Positive Trade Talks

Investing.com – U.S. futures pointed to a higher opening bell on Wednesday as trade optimism rose after upbeat comments

Investing.com – U.S. futures pointed to a higher opening bell on Wednesday as trade optimism rose after upbeat comments from U.S. President Donald Trump.

The S&P 500 futures rose 17 points or 0.67% to 2,658.88 as of 6:40 AM ET (11:40 GMT) while Dow futures gained 148 points, or 0.61%, to 24,572. Meanwhile tech heavy Nasdaq 100 futures increased 59 points, or 0.89%, to 6,776.75.

Trump tweeted on Tuesday that talks with China were “very productive.” The two countries agreed to a trade truce in early December in order to discuss a trade deal. Meanwhile Trump told Reuters that he would intervene in a U.S. Justice Department's case against an executive of Huawei if it would serve national security interests or help close a trade deal with China.

China had threatened severe consequences unless Canada released Chief Financial Officer Meng Wanzhou immediately. She is currently out on bail after being arrested on an extradition request from the U.S.

General Electric (NYSE:GE) was among the top gainers in premarket trading, rising 1.3%, while Microsoft (NASDAQ:MSFT) gained 1.5% and Facebook (NASDAQ:FB) was up 1.1%. Exxon Mobil (NYSE:XOM) jumped 2% and Cisco Systems (NASDAQ:CSCO) increased 1.3% after news that it is in talks to buy optical chipmaker Luxtera. NVIDIA Corporation (NASDAQ:NVDA) inched up 1.3% after Softbank announced it plans to sell its stake in the company next year.

Elsewhere, eBay (NASDAQ:EBAY) fell 2.2% while Verizon (NYSE:VZ) slumped 1% after the company said its media company Oath is worthless.

In economic news, CPI figures are released at 8:30 AM ET (13:30 GMT).

gold futures rose 0.1% to $1,248.80 a troy ounce while crude oil futures increased 1.8% to $52.59 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, inched up 0.02% to 97.37.

-Reuters contributed to this report.