Wall Street set for an upbeat open as Fed Chair speech looms; trade in focus
Michael Nagle | Bloomberg | Getty Images
Traders work during the Pivotal Software Inc. initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, April 20, 2018.
U.S. Futures appear to be adding to the previous session's gains, that saw Wall Street positively, as concerns surrounding trade showed signs of easing.
On Monday, President Donald Trump told the Wall Street Journal that it was a matter of importance to the President of Donald Trump and China's Xi Jinping. "highly unlikely", at the States would delay from increasing tariff levels to 25 percent on $ 200 billion of Chinese goods, which put some markets under pressure. The next day however, White House economic adviser Larry Kudlow appeared to alleviate concerns, stating that the Trump administration had resumed discussions "at all levels" with China's government. At the summit, the two leaders are expected to have dinner together.
Meanwhile, Federal Reserve Chair Jerome Powell is expected to speak at the Economic Club of New York. During the event, Powell is slated to talk about the Fed's framework for the monitoring of financial stability.
Ahead of the event, Trump told the Washington Post that he was not "even a little bit happy" with his appointment of Powell as the Fed's Chair, adding that he thought the central bank's recent actions were "way off-base".
