The
benchmark S&P 500 index is eyeing its fifth straight week of
increases, while the tech-heavy Nasdaq is set to log six weeks
of gains.
China said on Thursday that it had agreed with the United States
to remove tariffs in phases, while the state-owned Xinhua News
Agency said Beijing was also considering removing restrictions
on poultry imports.
Trade-sensitive industrials 3M Co <MMM.N> and Caterpillar Inc <CAT.N>
rose nearly 1% in premarket trading. Chipmakers with sizeable
exposure to China, including Intel Corp <INTC.O>, Micron
Technology <MU.O> and Nvidia Corp <NVDA.O>, were up between 1.7%
and 2%.
Also supporting tech stocks was a 6.1% gain in Qualcomm Inc
shares <QCOM.O> after the chipmaker forecast current-quarter
profit above analysts' estimates.
At 7:22 a.m. ET, Dow e-minis <1YMcv1> were up 131 points, or
0.48%. S&P 500 e-minis <EScv1> were up 10.75 points, or 0.35%
and Nasdaq 100 e-minis <NQcv1> were up 35.75 points, or 0.44%.
Expedia Group Inc <EXPE.O> dropped 13.2% as the online travel
booking company missed quarterly profit estimates.
Roku Inc <ROKU.O> plunged 14.5% after posting a wider net loss
in the third quarter, as it spent more to attract subscribers to
its video streaming platform.
Twitter Inc <TWTR.N> fell 1.4% after Evercore ISI downgraded the
stock to "underperform" from "in-line".
(Reporting by Arjun Panchadar in Bengaluru)
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