Stock futures rise on US-China trade optimism

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U.S. stocks index futures rose on Friday, as investors took comfort from signals that the United States and China will resume trade talks.

Wall Street's main indexes are on track to wrap up the week with the biggest gains since June after coming under immense selling pressure for much of the month due to escalating trade tensions and fears of a looming recession.The benchmark S&P 500 index is has fallen 3.4per cent from its record high hit in late July. Markets will be shut for the Labor Day holiday on Monday.

Investors are also bracing for a new round of U.S. tariffs on some Chinese goods that would come into effect on Sunday. The inflation report will be followed by the monthly jobs report and manufacturing data next week that would offer more clarity on the chances of another interest rate cut.

 

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