Stock futures fell on Thursday, but offset major losses after China's Deputy Prime Minister Liu He reportedly said he was "cautiously optimistic" about reaching a preliminary Phase 1 trade pact with the United States.
How are the main goals going?
Dow Jones Industrial Average Futures
eased 46 points, or 0.2%, to 27,754, while S&P 500 futures
dropped 5.25 points, or 0.2%, to 3,103.75. Nasdaq-100
edged 16 points lower, or 0.2%, to 8,275.50.
Wednesday, Dow Industrials
fell 112.93 points, or 0.4%, to close at 27,821, while the S&P 500
lost 0.4% to close at 3,108.46. Nasdaq Composite
trading briefly over the neutral line in the late morning closed 0.5% lower at 8.526.73.
What is driving the market?
Liu expressed optimism over a one-trade deal at a dinner, according to anonymous sources who participated, Bloomberg reported. China's top trade negotiator also told a person at the event that he was "confused" about US trade requirements, but believes a deal will be reached.
Losses for US stocks Wednesday and weakness for Asian stocks early Thursday came in part after Reuters reported that a first-tier deal would be pushed into 2020. President Donald Trump had also countered high demands on China.
The market has also been concerned about rising tensions in Beijing and Washington due to a human rights bill in Hong Kong, which was approved by the House of Representatives Wednesday after the previous passage of the Senate. The bill – now headed to Trump for his signature – has angered the Chinese government.