Wall Street's Bullish Week: U.S.-China Truce Sparks Surge
U.S. stock index futures rose as Wall Street looked to end the week on a high note, buoyed by a truce in U.S.-China tariffs and improved inflation data. Market focus was also on the potential delay of a key tax bill vote and Federal Reserve officials' speeches.
In a bullish turn of events, U.S. stock index futures climbed on Friday, setting Wall Street up for a triumphant week. The rally comes on the back of a U.S.-China tariff truce and positive inflation data, with investors also eyeing a crucial vote on President Trump's comprehensive tax legislation.
Despite uncertainty surrounding the tax bill vote, which might be postponed due to opposition, major indexes are poised for significant weekly gains. This uplift was largely driven by an early-week rally after Washington and Beijing announced a 90-day pause in their escalating trade conflict.
While risks persist, analysts from Societe Generale suggest the current 'risk-on' momentum may continue into the coming month, albeit at a more measured pace. Meanwhile, the University of Michigan's consumer sentiment reading, set for release, and speeches by Federal Reserve officials are also under market scrutiny.
(With inputs from agencies.)
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