US Stock Futures Points to a Positive Open on Thursday

S Stock Futures Points to a Positive Open on Thursday

NEW YORK, N.Y. – US stock index futures are pointing towards a more positive open on Thursday as market players continue to wait on cues about the developments on the trade negotiations between the US and China.

At nearly 2:30 a.m., the Dow Jones Industrial Index futures have already recorded around 20 points of increase, expecting as much as 23 points advance as the market opens for the trading session on Thursday. Other major US index futures, the Nasdaq and S&P 500, are also expecting a more positive open in today’s session.

The slight advance for the three major US index futures followed the announcement by the Federal Reserve on Wednesday. The Fed had said that it is holding the interest rates firmly within the target range, which is between 1.5% and 1.75%. The announcement was as expected, and the Fed has also indicated that there aren’t likely any changes in the policy throughout 2020, at the very least.

Following many objections during its recent meetings, the decision of the central bank to keep the rates of borrowing costs steady was unanimous.

Aside from the recent announcement of the central banks, market players are continually monitoring the updates on the ongoing trade talks between the US and China as well, especially as the December 15 tariff deadline on Chinese imports is looming over.

The US and China, two of the largest economies in the world, have been imposing tariffs on each other’s imports more than a year ago. It was the start of the still ongoing trade war between the two governments, which hasn’t only affected the economy of both countries but caused declines in global shares as well.

Investors are waiting for any developments following the meeting of US President Donald Trump and the trade advisors at the White House scheduled later today. The high-stakes meeting is expected to see the senior government officials finalize whether the US will go ahead with the tariff hike scheduled on Sunday, which would affect around $156 billion of Chinese imports.

On the data front, market players are on the lookout for PPI (producer price index) data for November, as well as the latest weekly jobless claims. Both figures are expected to be published around 8:30 a.m. E.T.

In the corporate sector, Ciena is expected to publish its latest earnings before the trading session on Friday’s opening bell. After the market closes, the quarterly earnings report of Costco, Broadcom, and Adobe are expected as well.

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