Stock Price: US Futures Rise amid Trade Deal Hopes
STOCK PRICE – On Wednesday, US futures traded with gains. Further, this was amid the hopes on the outcome of the recently concluded three-day trade negotiations between the United States and China.
Moreover, there was a 5-point increase in the S&P 500 futures as of 6:41 AM ET (11:41 GMT). Meanwhile, Dow futures added 71 points or 0.30%. The Nasdaq 100 futures surged 21 points or 0.33%.
The original schedule of the trade talks between Beijing and Washington is for two days only. However, it was extended to have a third day. Further, the decision reflected what Chinese foreign ministry spokesman Lu Kang said that both parties are serious.
U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He will meet later this month for another set of trade talk. Both Beijing and Washington need to come up with a trade deal until March 1. This is ahead of the plans of the US to increase tariffs on Chinese goods worth $200 billion.
Among the top gainers in the premarket trading is Apple with its 1.5% increase. Moreover, this is despite the fact that the tech giant company will cut its iPhone production by 10%. Meanwhile, there was a 1.4% increase in the Semiconductor company Micron. Advanced Micro Devices Inc edged up 0.2%. On one hand, there was a 0.13% surge in Intel. Facebook, on the other hand, added 0.5%.
Meanwhile, a family of a Florida man sued Tesla for the alleged defective battery that caused the death of the person. Following this news, Tesla dropped 0.6%.
The Federal Reserve released its meeting minutes at 2:00 PM ET (19:00 GMT). Among the expected speakers for the day were Atlanta Fed president Raphael Bostic, Chicago Fed chief Charles Evans and Boston Fed president Eric Rosengren.
Stock Price: India stocks increase at trade close
On Wednesday, India stocks closed higher. Further, this was amid the gains in sectors such as Fast Moving Consumer Goods, Banking and Real Estate that lifted the shares higher.
There was a 0.49% increase in the Nifty 50. Meanwhile, the BSE Sensex 30 index added 0.64% at the NSE close.
During the Nifty 50 session, the best performers were AXIS Bank Ltd, ITC Ltd, Housing Development Finance Corporation Ltd. There was an increase of 3.12% or 20.30 points in the AXIS Bank Ltd to close at 670.10. On one hand, ITC Ltd gained 2.55% or 7.25 points to trade at 290.40 at the close. Housing Development Finance Corporation Ltd, on the other hand, climbed 1.65% or 32.35 points to 1994.95 in late trade.
Meanwhile, the worst performers during the session were GAIL Ltd, Hindustan Petroleum Corporation Ltd, and Bharat Petroleum Corp. Ltd.