U.S.-China Trade Truce Sparks Wall Street Optimism
U.S. stock index futures remained stable as the market digests a trade truce between the U.S. and China, leading to lifted sentiments on Wall Street. The S&P 500 and Nasdaq benefited, while investors anticipate updates on trade agreements during President Trump's Gulf region visit.
The American stock market opened to a steady session on Wednesday after a robust start to the week, buoyed by a soft inflation reading and a trade agreement between the U.S. and China. Investors are keenly watching for any further trade developments.
Wall Street's momentum picked up following a weekend agreement between Washington and Beijing to scale back reciprocal tariffs, providing a shot in the arm against potential global economic slowdowns. The accord includes a temporary reduction in U.S. tariffs on Chinese goods and a corresponding decrease in Chinese tariffs on American imports.
U.S. President Donald Trump's diplomatic engagements in the Gulf, alongside favorable earning reports and anticipated interest rate cuts, have stoked market optimism. Meanwhile, premarket trading showed gains in technology stocks like Tesla and Nvidia, whereas American Eagle Outfitters faced setbacks, citing tariff-related economic uncertainties.
(With inputs from agencies.)
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