Stocks- U.S. Futures Rally After Trump Tones Down Huawei Rhetoric
Published May 24, 2019 06:54AM ET
Investing.com - U.S. futures pointed to a higher opening on Wall Street on Friday after U.S. President Donald Trump toned down his attacks on Huawei.
Trump told reporters that if a trade deal was made with China, Huawei - which he still referred to as "very dangerous" - could be included in some form. The news eased fears among investors of a tech cold war between Washington and Beijing.
Dow futures rose 165 points or 0.7% by 6:52 AM ET (10:52 GMT), while tech-heavy Nasdaq 100 futures gained 42 points or 0.6% and S&P 500 futures was up 18 points or 0.6%.
Facebook (NASDAQ:FB) rose 0.8% after it said it removed 3.4 billion fake accounts, while Tesla (NASDAQ:TSLA) gained 3.2% and Qualcomm (NASDAQ:QCOM) inched up 0.1%, after losing 16% so far this week.
Amazon.com (NASDAQ:AMZN) was up 0.9% as it tried to lure Prime members to its one-day shipping service with warehouse reductions of up to 75%.
Elsewhere, Autodesk (NASDAQ:ADSK). fell 7.9%, while Foot Locker (NYSE:FL) fell as much as 10% after missing on first-quarter earnings, while software services company Splunk (NASDAQ:SPLK) fell 2.2% even after it posted better-than-expected results.
The economic calendar is sparse, with durable goods orders out at 8:30 AM ET (12:30 GMT).
In commodities, crude oil bounced 1.1% to $58.57 a barrel after losing 6% on Thursday, while gold futures fell 0.3% to $1,280.85 a troy ounce. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was down 0.1% to 97.650.
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Written By: Investing.com
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