U.S. stock index futures gave back some of their sharp gains on Friday after a White House official threw cold water on renewed optimism around U.S.-China trade relations.
At around 8:23 a.m. ET, Dow Jones Industrial Average futures were up 232 points, indicating a gain of 212.26 points at the open. Dow futures were up more than 350 points earlier in the day. S&P 500 futures also pointed to solid gains.
Futures surged after a Bloomberg News report said President Donald Trump asked officials to start drafting a potential trade deal with China.Actually, frankly, the market rallying in yesterday's session, and again overnight, on positive trade news, then giving some back (-200 Dow points [it's gotten worse since the above was published] as I type) on not-so-positive trade news is precisely the message we want the politicians to continue to receive. It's the incentive to get us (the world) out of what could morph into a monster of a mess.