Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Stocks- U.S. Futures Increase Despite Trade Tensions

Published 03/07/2018, 11:48
Updated 03/07/2018, 11:54
© Reuters.  U.S. futures pointed to a higher opening bell on Tuesday.

© Reuters. U.S. futures pointed to a higher opening bell on Tuesday.

Investing.com – U.S. futures rose on Tuesday despite lingering worry over a trade war between the U.S. and other major economies.

The S&P 500 futures gained 10 points or 0.39% to 2,738.0 as of 6:46 AM ET (10:46 GMT) while Dow futures increased 113 points or 0.47% to 24,399.0. Meanwhile tech heavy Nasdaq 100 futures gained 34 points or 0.48% to 7,150.75.

In the latest round of trade disputes, the U.S. is set to block China Mobile from offering services in the U.S. market, citing possible national security risks. The move comes just days before the U.S. is set to impose tariffs on $34 billion worth of Chinese goods on Friday.

Trading is expected to be thin ahead of the U.S. independence day holiday, with markets closing early at 1:00 P.M. ET (17:00 GMT).

Nokia (HE:NOKIA) was among the top gainers in pre-market trading, rising 1.59% while Netflix (NASDAQ:NFLX) gained 0.58% and Chinese e-commerce firm Jd.Com Inc Adr (NASDAQ:JD) increased 1.26%. Twitter inched up 0.71% after Wells Fargo (NYSE:WFC) raised it prices target on the social media site to $42 from $32.

Elsewhere Facebook (NASDAQ:FB) fell 1.45% after news that the FBI and other federal agencies have joined a Department of Justice probe into the use of Facebook data by Cambridge Analytica. Meanwhile Tesla (NASDAQ:TSLA) decreased 1.30% amid reports that its top engineer Doug Field is leaving.

In economics news, factory orders for May come out at 10:00 AM ET (14:00 GMT).

In Europe stocks were up. Germany’s DAX rose 154 points or 1.26% while in France the CAC 40 increased 51 points or 0.98% and in London, the FTSE 100 was up 39 points or 0.52%. Meanwhile the pan-European Euro Stoxx 50 gained 43 points or 1.28% while Spain’s IBEX 35 surged 135 points or 1.42%.

In commodities, gold futures rose 0.49% to $1,247.80 a troy ounce while crude oil futures increased 1.20% to $74.83 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was down 0.20% to 94.41.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.