Stock rally picks up steam as trade hopes fly
The Dow and broader stock market are gearing up for another rally on Friday ahead of a meeting between US President Donald Trump and Chinese Vice Premier Liu He.
Trade has dominated markets once again this week, with stocks rising and falling in lockstep with headlines.
The Trump-Liu meeting is spurring hopes for at least a partial trade deal between the world's two largest economies. The most recent round of talks between the countries took place in Washington this week.
In response, futures are sharply higher across the board. Dow (INDU) futures are up 1%, or 260 points.
Futures for the S&P 500 (SPX) are also up 1%, while those for the Nasdaq Composite (COMP) are up 1.1%.
But if anything has been learned throughout the US-China trade negotiations, it's that a tweet or a new headline can change sentiment at the drop of a hat.
Elsewhere in commodity markets, oil prices are sharply higher after an Iranian oil tanker was hit by two missiles in the Middle East. The missiles were possible fired from Saudi Arabian soil.
Geopolitical tensions in the oil-rich region are pushing prices higher on Friday. US oil prices are up 1.3% at $54.23 a barrel, while the international benchmark, Brent crude, is up 1.3% at $59.88 a barrel.
The Trump-Liu meeting is spurring hopes for at least a partial trade deal between the world's two largest economies. The most recent round of talks between the countries took place in Washington this week.
In response, futures are sharply higher across the board. Dow (INDU) futures are up 1%, or 260 points.
Futures for the S&P 500 (SPX) are also up 1%, while those for the Nasdaq Composite (COMP) are up 1.1%.
But if anything has been learned throughout the US-China trade negotiations, it's that a tweet or a new headline can change sentiment at the drop of a hat.
Elsewhere in commodity markets, oil prices are sharply higher after an Iranian oil tanker was hit by two missiles in the Middle East. The missiles were possible fired from Saudi Arabian soil.
Geopolitical tensions in the oil-rich region are pushing prices higher on Friday. US oil prices are up 1.3% at $54.23 a barrel, while the international benchmark, Brent crude, is up 1.3% at $59.88 a barrel.