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Home / Business / Stocks seen snapping back as Mnuchin says the US was 90% of the way there on the China trade deal

Stocks seen snapping back as Mnuchin says the US was 90% of the way there on the China trade deal



  • Mnuchin tells CNBC & # 39; We were about 90% of the way there & # 39; at China Trade Deal
  • Stocks set to recover part of Tuesday's loss
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USA. stock index attempts attempted to complain about some of the previous day's losses early Wednesday following a US Secretary-General's report Mnuchin suggested that a Chinese-US trade deal was not far from complete, and supported some modest appetite to buy on Wall Street.

Futures for the Dow Jones Industrial Average

YMU19, + 0.12%

rose 76 points, or 0.3% to 26.638, those of S & P 500

ESU19, + 0.20%

advanced 8.40 points, or 0.3%, of 2.930.75, while Nasdaq-100 futures

NQU19, + 0.88%

climbed 37 points, or 0.5% to 7,665.75.

Mnuchin told CNBC that Beijing and Washington are approaching a tariff agreement. "We were about 90% of the way there (with a deal) and I think there is a way to accomplish this," he told the financial network in Bahrain.

The Treasury Secretary said he was "hopeful" that an agreement could be beaten when the market is waiting for a sidelines between President Donald Trump and Chinese President Xi Jinping in the group of 20 sessions in Osaka, Japan, starting Friday.

Concerns about growing trade tensions between China and the United States, the world's largest economies, have received a sense of increasing uncertainty about the health of the world economy, at least partially contributing to central banks worldwide, signaling a willingness to restore a new wave of economic stimulus.

On Tuesday, stock markets had one of the worst downs in a month, led by sales in trading-sensitive information stocks, also among the risky assets that have helped lead the S&P 500 index

SPX, + 0.24%

last week to its first record since April 30. Even with yesterday's slide, the Dow Jones Industrial Average

DJIA, + 0.21%

stands about 1% shy of its October 3 record, while the technological heavy Nasdaq Composite Index


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