U.S. stocks signaled another rally on Sunday night after the Trump administration negotiated a framework for a trade deal with China that should avoid mutual assured destruction.
Trump and Chinese President Xi Jinping are scheduled to meet Thursday on the sidelines of a regional economic conference in South Korea, where they will determine the final details of a deal.
Futures tied to the Dow Jones industrial average rose 312 points, or 0.66%. S&P 500 futures were up 0.75%, and Nasdaq futures added 0.91%. That would add to Friday’s rally that saw fresh record highs.
The yield on the 10-year Treasury was flat at 4.003%. The U.S. dollar was down 0.03% against the euro and up 0.16% against the yen.
Gold fell 0.59% to $4,113.40 per ounce. U.S. oil futures rose 0.80% to $61.99 a barrel, and Brent crude climbed 0.76% to $66.44.
Wall Street is also looking ahead to the Federal Reserve’s policy meeting, which will conclude on Wednesday. Investors overwhelmingly expect another quarter-point rate cut, bringing the benchmark rate to 3.75%-4.00%.
That’s after the consumer price index for September inched up but came in below forecasts, clearing the way for the Fed to focus more on the maximum-employment side of its mandate than the inflation-fighting side.
The coming week will also be busy for tech earnings amid growing concerns that the AI boom may be starting to resemble a bubble.
