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President Donald Trump's plans to impose tariffs on goods from
China, which holds a $375 billion trade surplus with the United
States, had rattled global markets last week.
By 7:23 am ET (11:23 GMT), S&P 500 e-minis <EScv1> were up 16.25
points, Nasdaq 100 e-minis <NQcv1> were up 68.25 points and Dow
e-minis <1YMcv1> were up 145 points.
Wall Street recorded its best day in 2-1/2 years on Monday and
the Dow Jones Industrial Average <.DJI> saw its third-biggest
point gain ever.
The S&P 500 <.SPX> ended up 2.72 percent, the Dow 2.88 percent
and the Nasdaq <.IXIC> 3.26 percent, with all three indexes
registering their biggest percentage gains since August 2015.
Top Trump administration officials are asking China to cut
tariffs on imported cars, allow foreign majority ownership of
financial services firms and buy more U.S.-made semiconductors
to avoid tariffs on Chinese goods and a potential trade war.
These were among the asks from Treasury Secretary Steven Mnuchin
and U.S. Trade Representative Robert Lighthizer as they pursue
talks with Beijing, a person familiar with the discussions told
Reuters.
Among the top 25 most active stocks in premarket trading, just
four were in the red.
Facebook <FB.O> was up nearly 1 percent after being hammered for
days following the outcry over the social media company's
handling of users' data.
The company now faces an investigation by the U.S. Federal Trade
Commission on how it allowed data of 50 million users get into
the hands of a political consultancy.
Kinder Morgan <KMI.N> shares were up 1.2 percent after Citigroup
upgraded the stock to "buy".
(Reporting by Sruthi Shankar and Sweta Singh in Bengaluru;
Editing by Anil D'Silva)
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