Reliance Trading Co. Limited – US Futures Rise after Positive G20 Weekend Meeting

WAN CHAI, Hong Kong - Dec. 2, 2018 - PRLog -- Dow Jones Industrial Average YMZ8, +1.81% futures were up more than 400 points, or 1.6%, on Sunday night, while S&P 500 futures ESZ8, +1.46% rose 1.5% and Nasdaq Composite futures NQZ8, +1.78% jumped 1.8%. Investors are optimistic after the U.S. and China agreed to a truce in their trade war over the weekend, with President Donald Trump saying he would not raise tariffs at the start of the New Year as he had threatened to do.

"The meeting held on Saturday appears to have set the groundwork for what could potentially be the end of this tariff crisis." Said James Greenburg, chief strategist at Reliance Trading, "and if this is the case, it will be nice to have drawn a line under the last few months volatility."

Asian stock markets rose as well in early trading, with benchmark indexes in Australia XJO, +1.60% , Japan NIK, +1.22% and South Korea SEU, +1.53% around 1% higher.

Oil futures jumped too, with West Texas Intermediate crude for January delivery CLF9, +3.81% up more than 3% while the global benchmark Brent crude LCOG9, +2.07% was up nearly 3% on hopes that easing trade tensions will spur economic growth.

OPEC meets later this week and will likely make assurances over supply issues, with crude hovering over $50 per barrel the governing body will look to ease concerns over further falls in the commodity, whilst dealing with concerns over region stability.

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