REUTERS: U.S. stock index futures rose on Friday, as positive comments related to the U.S.-China trade talks and strong earnings from semiconductor industry bellwether Applied Materials put the S&P 500 and Dow on track to hit fresh highs.
Shares in chip gear maker Applied Materials Inc jumped 5.7per cent in premarket trading after it forecast quarterly results above estimates, as it expects more clients to upgrade their equipment ahead of the 5G rollout in key markets. Chipmakers have been among the victims of a long-running trade war between Washington and Beijing, as they rely on China for a huge portion of their revenue. However, signs of progress on the trade front have helped drive the Philadelphia chip index to record levels.The benchmark S&P hit an all-time closing high on Thursday, as robust earnings from retail giant Walmart Inc pointed to a strong U.S. consumer at a time when spending is seen as a key support for the economy.
Wall Street's main indexes have been powered by hopes of a"phase one" trade deal, a largely upbeat third-quarter earnings season and a third interest rate cut by the Federal Reserve.
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