US futures trade higher as year-end rally continues

US futures trade higher as year-end rally continues

U.S. stock index futures point to a higher start to the trading day as optimism continues to drive year-end rally. 

At 0200 ET, Dow futures were up 45 points, pointing to a higher start of more than 54 points. Futures on Nasdaq and S&P 500 traded higher too.

Market focus is largely attuned to the U.S.-China trade development. Investors are running back into traditional assets ever since the announced they have reached a phase one trade agreement earlier this month. The two countries are in the process of translating the deal, aiming to sign it in early January.

In a regular press briefing on Thursday, the Chinese Commerce Ministry said China is in close touch with the U.S. on signing the initial trade pact. President Donald Trump said Tuesday the deal is “getting done,” adding there will be a signing ceremony with Chinese leader Xi Jinping.

On Thursday, stocks stateside hit record highs as the year-end rally continues. The Dow Jones Industrial Average rose 105.94 points, or 0.37%, to 28,621.39, while the S&P 500 climbed 0.51% to 3,239.91. The Nasdaq Composite finished the day 0.78% higher at 9,022.39, topping the 9,000 mark for the first time ever.

No economic data and earnings are scheduled for Friday. 

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