Wall Street futures surged on Tuesday morning as market participants expressed optimism over the ongoing trade negotiations between the United States and China, which resumed in London. Scheduled to continue for a second day at 10 AM local time, the discussions follow a constructive first day that concluded the previous evening.
As of early Tuesday, Dow Jones Industrial Average futures rose by 120 points, with S&P 500 and Nasdaq futures gaining 30 and 140 points respectively, reflecting increased investor confidence. The gains come on the heels of a volatile trading session on Monday, during which the Dow swung within a 400-point range before closing near the flat line. The S&P 500 followed a similar trajectory, while the Nasdaq Composite outperformed its peers, buoyed by a notable rebound in Tesla shares.
The broader market backdrop remains influenced by macroeconomic and geopolitical factors. The US Dollar Index continues to hover in the 98-99 range, awaiting further clarity from the trade talks. In the energy markets, Brent crude oil prices climbed above $67 per barrel amid heightened anticipation ahead of scheduled negotiations between the US and Iran in Vienna.
Meanwhile, gold prices remained in a downtrend, signaling reduced demand for traditional safe-haven assets, and US Treasury yields held steady, with the 10-year note yielding around 4.5%.
Market watchers are closely monitoring developments from London, as any tangible progress in the trade discussions could significantly impact global trade dynamics and investor sentiment. Further updates are expected as the second day of talks unfolds.
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