US Equity Futures Marginally Higher on Friday, so are Global Stocks

WASHINGTON, D.C. – US equity futures going marginally higher on Friday, signaling an optimistic end for this week after experiencing a losing streak for three days.

After days of a downtrend, the US equity futures are edging higher as market players continue to watch the latest updates on the trade talks between the US and China and the strength of consumers as the holiday season nears.

Amid the conflicting signals between Washing and Beijing regarding the long-standing trade talks, the S&P 500 just gave back less than 1% of the index’s year-to-date profits this week. However, unpredictability continued to remain low, leaving the three domestic benchmarks near the all-time high levels, disregarding the ongoing concerns about whether the trade agreement between two of the largest economies in the world will be reached before the year ends.

Based on recent statements from both governments, the market has been in conflicting sentiments the majority of the week. China President Xi Jinping further added to the concerns of market players with his statement on Friday at an international forum in Beijing. The president said that China wants to reach phase one agreement with the US on the basis of equality and mutual respect. However, he continued that when necessary, his country will fight back.

Xi also cautioned that they don’t want to start any trade war, but if it happens, China is not afraid.

Market players have been hoping for more optimistic updates on the trade negotiations, especially with the impending tariffs the US will impose on December 15 to about $160 billion of Chinese consumer goods, which includes Apple iPhone. Investors are also hoping to prevent any possible spending disruption over the holiday season, especially from American shoppers.

Wall Street futures tracked modest gains on Friday. Dow Jones Industrial Average contracts are also suggesting about 66 points of gains, while contracts tied to the S&P 500 are looking to about 6.7 points increase.

In the global market, Euro stocks also tracked moderately higher gains early on the last day of the trading sessions for the week. Britain’s FTSE 100 suggested 0.4% gains as the pound remained around 1.2917 against the USD. The Stoxx 600 benchmark also reported about a 0.22% rise. The euro also tracked marginally higher against the US dollar.

The Asian stock market is also suggesting a moderately optimistic rise after a three-week low, with Japan’s Nikkei 225 going up about 0.32% to 23, 112.88 points, and a 0.13% increase for the MSCO ex-Japan index despite experiencing weakness in Indian stocks and the pullback in China.