U.S. stock futures are pointing higher Monday morning as market players remained focused on U.S.-China trade talks.
U.S. stock futures were pointing higher Monday morning as market players remained focused on U.S.-China trade talks. The Chinese Vice Premier spoke with the U.S. Treasury Secretary and Trade Representative over the phone on Saturday. According to the Chinese Ministry of Commerce, both sides had "constructive" talks regarding each other's trade concerns.
The Dow on Friday soared above 28,000 for the first time, ending the week at 28,004, with a gain of 1.2% for the week. The S&P 500 ended the week up 0.9% at 3,120. However, Treasury yields backed off recent highs. The 10-year Treasury, after hitting a high yield of 1.97% the week earlier, was at 1.83% Friday.
On today's economic calendar, we'll be seeing the business leaders survey at 8:30 a.m. and the NAHB survey at 10 a.m. Cleveland Fed President Loretta Mester is slated to speak at noon, and TIC data is released at 4 p.m. No earnings reports are out today. The House impeachment hearings are entering a crucial second week as Democrats are set to hear from
about President Donald Trump's dealings with Ukraine. Three State Department officials have already testified about their concerns as Trump pushed Ukraine to investigate Democrats and withheld military aid from the country. Mike Pompeo, the Cabinet member who has been his closet ally, NBC News reported. Trump has reportedly fumed for weeks that Pompeo is responsible for hiring State Department officials whose congressional testimony threatens to bring down his presidency.
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