Stocks set to recover big on trade hopes

By Baystreet Market Updates

U.S. stock index futures jumped ahead of Thursday’s open on renewed hope that a resolution to a trade dispute with China could be on the horizon. Investors also cheered strong quarterly results from WalMart.

Futures for the Dow Jones Industrials jumped 190 points, or 0.8%, to 25,379

S&P 500 futures gained 12.75 points, or 0.5%, to 2,834, while futures for the NASDAQ composite took on 44.75 points, or 0.6%, to 7,418.75

U.S. stock futures also got a boost from strong WalMart quarterly earnings. The results sent Walmart shares surging nearly 10% in the pre-market after the company reported its biggest jump in U.S. sales in a decade. The results also lifted shares of Target, which gained 2.9%.

All the major economic data are due out at 8:30 a.m. ET, which includes jobless claims, housing starts, the Philadelphia Fed’s Manufacturing Business Outlook Survey, and the business leaders’ survey.

Stock futures rose on reports saying that China and the U.S. will hold a fresh round of trade talks later in August, giving investors hope that a resolution to the two countries’ trade could be on the horizon.

A Chinese delegation led by Vice Minister of Commerce Wang Shouwen will meet with U.S. representatives led by Under Secretary of Treasury for International Affairs David Malpass, the Chinese Ministry of Commerce said

Overseas, in Japan, the Nikkei 225 dipped 0.1% while in Hong Kong, the Hang Seng index gave back 0.8%.

Oil prices picked up 13 cents to $65.14U.S. a barrel.

Gold prices added $3.20 to $1,188.20U.S. an ounce.

This article provided by NewsEdge.