Stock Market News — U.S. Futures
Chinese Vice Premier Liu spoke to U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer in a call on Tuesday morning, China’s commerce ministry said. Last week U.S. President Donald Trump and Chinese President Xi Jinping agreed pause adding additional tariffs on each other’s goods for 90 days as trade talks commence.
Global markets are jittery about a growing clash between the world’s two largest economic powers over China’s huge trade surplus with the U.S. and Washington’s claims that Beijing is stealing intellectual property and technology.
AT&T (NYSE:T) was among the top gainers in premarket trading, rising 1.4%, while gaming company Zynga (NASDAQ:ZNGA) jumped 2.7% and Home Depot (NYSE:HD) inched up 0.9%. Semiconductor AMD (NASDAQ:AMD) gained 1.7% and Micron (NASDAQ:MU) increased 1.1% while Twitter (NYSE:TWTR) was up 1.3%.
Additionally, it didn’t hurt that Deutsche Bank named the social media behemoth the top large internet stock with an “extremely attractive” valuation . FB’s stock price jumped 3.22 percent on the news. On the economic front, producer price data for November comes out at 8:30 AM ET (13:30 GMT). The numbers should give a better picture of the rate of inflation.
In commodities, gold futures rose 0.3% to $1,253.25 a troy ounce while crude oil futures increased 0.7% to $51.37 a barrel. In currency markets, the U.S. dollar index which measures the greenback against a basket of six major currencies, was down 0.3% to 96.88.