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Stock futures soar as the United States, China agree ceasefire on tariff war

US Stock Market Futures increased on Monday after Washington and Beijing agreed on the weekend to pause their tariff war, indicating probable gains later on Wall Street.

How are the benchmarks indexing?

Dow Jones Industrial Average Futures

YMU19, + 1.00%

jumped 260 points, or 1% to 26,852, and S & P 500 index futures

ESU19, + 1.16%

increased 33.3 points, or 1[ads1].1% to 2.977. Nasdaq Composite futures

NQU19, + 1.84%

increased 137.25 points, or 1.8% to 7,830.75.

On Friday Dow

+ 0.28%

added 207.06 points, or 0.8% to 25.532.05. S&P 500

SPX, + 0.58%

increased 22.54 points, or 0.8% to 2,834.41. Nasdaq Composite Index

+ 0.48%

received 87.47 points, or 1.1% to 7.734.49.

The win comes after Dow signed his best June since 1938, and S & P 500 called his best June since 1955.

What drives the market?

After meeting China's President Xi Jinping on Saturday at the G-20 leader's Japan summit, President Donald Trump said the United States would maintain today's rates, but held onto new ones. Trump also said he would lift a ban on Huawei so US companies could sell their products to the China tech group, even though the company would remain on a trading blacklist.

Trump said conversations went "even better than expected" that "we're going to work with China where we left off."

Stephen Innes, managing partner of Vanguard Markets wrote in a Sunday note that "after the markets got stuck in the trade war limbo in the better part of two months, investors would breathe a massive but exhausted sigh of relief that both the US and China chose to push the reset button and reboot trade negotiation [s]" [19659007] However, questions remain about which products US companies are allowed to sell to Huawei, while investors have little information about the timing of future trade negotiations and whether or when existing tariffs can be rolled back. The Ministry of Commerce is currently working on a reform of export licensing that respects Huawei, it tells the Wall Street Journal.

Data out of China and the world economy were less horrific, with a private gauge showing activity in China's manufacturing industry cooling in June and moving into the contraction area.

"Economic data … was universally disappointing overnight," wrote Tom Essay, president of the Sevens Report, in a Monday message to clients. "Every production PMI missed expectations this morning, including those from China, Germany, the EU and the UK. All these PMIs are now below 50, signaling widespread contraction in production activity."

The week will be broken up on Thursday's Independence Day, but investors will return Friday to important June salary data for profitability. Prior to that on Monday, the Markit Manufacturing Purchase Managers index fell due at 9:45 am, Eastern Time, followed by the Institute of Supply Management's June index at 10:00 am east, with construction expenses due at the same time.

Read: The economy is not on thin ice, but another poor job report will increase the fear

What shares are in focus?

Applied Materials Inc .

+ 0.49%

shares rose 3.6% in the premarket action Monday, after the chip equipment company said Monday it would buy Kokusai Electric for $ 2.2 billion in cash from private-equity giant KKR & Co .

KKR, + 1.49%

Semiconductor shares became more generally rallying before Monday, after notice had ended. Stocks of Qorvo Inc .

QRVO, -0.67%

rose 7.4%, those of Qualcomm Inc .

QCOM, + 0.85%

added 7.4% and Broadcom Inc .

AVGO, + 0.75%

share advanced 5.1% in premar trade.

Stocks of Genesee & Wyoming Inc .

GWR, + 1.45%

achieved 8.5% in premarket actions after the railway company agreed to be purchased by Brookfield Infrastructure Partners LP, in a $ 8.4 billion deal or 12% above the market value at the end of the Friday trading.

How do other markets trade?

Return on 10-year government bond

TMUBMUSD10Y, + 0.86%

increased 0.2 base points to 2.106%.

Asian markets coincided with share price, while European stocks were traded higher, with Stoxx Europe 600


increased 1.1%.

The US Dollar

DXY, + 0.31%

rose 0.3% to 96.394, while gold prices


sank 1.9%, having scored the biggest monthly win in three years.



climbed 2.7% to $ 60.02 per barrel after Russia and Saudi Arabia agreed to expand the organization of the petroleum exporting countries agreement to cut oil production by another six to nine months, according to comments by Russian President Vladimir Putin on G-20 head summit in Japan on Saturday.

OPEC plus a group of 10 countries led by Russia meet Monday and Tuesday in Vienna.

– Barbara Kollmeyer contributed to this article

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