Home / Business / Stocks: 6 things to know before the U.S. open

Stocks: 6 things to know before the U.S. open

Before the Bell Trump speaks with Asia; Stocks at record highs; Oil prices pop by Alanna Petroff @AlannaPetroff February 10, 2017: 5:38 AM ET

premarket stocks trading futures
Click chart for in-depth premarket data.

1. Trump talks with China, Japan: Investors are feeling optimistic as it seems President Trump may be toning down his rhetoric towards China.

Trump committed to honoring the "One China" policy in a phone call on Thursday evening with his Chinese counterpart Xi Jinping. Trump had previously upended decades of diplomatic protocol by taking a phone call with Taiwan's president.

'; for (i = 0; i 4) { afterParagraphFour = true; } currentParagraph = storytext.childNodes[i]; heights += currentParagraph.clientHeight; if (heights >= limit && insertAfterThisParagraphIndex === -1) { insertAfterThisParagraphIndex = SMARTASSET.setDivIndex(i); console.log("insert after paragraph number " + i); console.log("HEIGHTS = " + heights); console.log("LIMIT = " + limit); } } /* div with id="ie_column" */ else if (storytext.childNodes[i].nodeName.toLowerCase() === 'div' && storytext.childNodes[i].id !== "undefined" && storytext.childNodes[i].id ==="ie_column") { heights = 0; limit = 80; insertAfterThisParagraphIndex = -1 } /* embeds from twitter, facebook, youtube */ else if (storytext.childNodes[i].nodeName.toLowerCase() === 'div' && storytext.childNodes[i].classList.contains('embed')) { heights = 0; limit = 80; insertAfterThisParagraphIndex = -1 } /* cnn video player */ else if (storytext.childNodes[i].nodeName.toLowerCase() === 'div' && storytext.childNodes[i].classList.contains('cnnplayer')) { heights = 0; limit = 80; insertAfterThisParagraphIndex = -1 } /* images */ else if (storytext.childNodes[i].nodeName.toLowerCase() === 'img') { heights = 0; limit = 80; } /* images stored in figure tags */ else if (storytext.childNodes[i].nodeName.toLowerCase() === 'figure') { heights = 0; limit = 80; } } if (heights >= 875 && afterParagraphFour) { storytext.childNodes[insertAfterThisParagraphIndex].insertAdjacentHTML('afterend', smartAssetDiv); smartasset = document.getElementById('smartasset-article'); smartasset.style.float = 'left'; // allows module to have text float to right smartasset.style.marginRight ='20px'; smartasset.style.marginBottom ='25px'; } } SMARTASSET.setSmartAssetScript = function() { console.log('starting setSmartAssetScript'); SA = document.SA || []; SA.push({ embedUrl: "https://smartasset.com", container: "#smartasset-article", version: 1.1, data: { key: "bdknf2rinbhwvdksm6zbmhf3twrv4oih" } /*{ key: "CNNe038d38a57032085441e7fe7010b0" }*/ }); console.log('finished in setSmartAssetScript push() call'); var smscript = document.createElement("script"); smscript.type = "text/javascript"; smscript.async = true; smscript.src = ("https:" == document.location.protocol ? "https://" : "http://") + "smartasset.com/embed.js"; var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(smscript, s); console.log("finished entire function of setSmartAssetFunction()"); }; SMARTASSET.setSmartAssetDiv(); SMARTASSET.setSmartAssetScript();

Market commentators said Trump's acknowledgment of the "One China" policy is a positive move.

This "matters to investors because if China can bring about a change like this, it may succeed in softening other U.S. policy positions," said Paul Donovan, global chief economist at UBS Wealth Management.

Trump is due to meet Japanese Prime Minister Shinzo Abe later Friday at the White House.

The U.S. and Japan account for nearly a third of the global economy. Trade in goods and services between the world's No.1 and No. 3 economies was worth nearly $268 billion in 2015.

2. Global stock market overview: Global stock markets are mostly positive right now. Investors are cheering a report showing China saw strong growth in imports and exports in January.

In the U.S., investors are getting excited after White House press secretary Sean Spicer said on Thursday that Trump is preparing "a comprehensive [tax] plan, something that we haven't seen since 1986."

The remarks are fueling expectations that tax cuts for individuals and businesses are coming soon.

U.S. stock futures are all rising. This comes after the Dow Jones industrial average, S&P 500 and Nasdaq all hit record highs on Thursday.

European markets are mostly positive in early trading. Nearly all major Asian markets ended the day with gains.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

3. Oil prices pop: Crude oil futures are getting a boost after the International Energy Agency said major oil producing nations are largely fulfilling their pledge to slash production.

Members in the oil cartel OPEC promised to slash production late last year. But there were doubts about whether all the countries would follow through.

The IEA report should reduce those doubts, at least for now.

Crude prices are now roughly double where they stood a year ago.

4. Condoms and baby formula: British conglomerate Reckitt Benckiser (RBGLY), which owns consumer brands like Durex, has agreed to buy an infant formula maker, Mead Johnson Nutrition (MJN).

The total value of the transaction, including debt, will be $17.9 billion. The companies said earlier this month that they were in talks about a deal.

Reckitt Benckiser will pay $90 in cash for each Mead Johnson Nutrition share, well above Thursday's closing price.

5. Consumer confidence: The University of Michigan's consumer sentiment index for February is set to be released at 10 a.m. ET. This is a preliminary reading and is later updated as the month progresses.

The January sentiment reading was the highest in the last 12 years and marked a slight uptick from December.

Download CNN MoneyStream for up-to-the-minute market data and news

6. Coming this week:

Friday – Trump meets Japanese Prime Minister Shinzo Abe

CNNMoney (London) First published February 10, 2017: 5:38 AM ET

Comments

Social Surge – What's Trending

  • Nordstrom stock defies Trump
    Nordstrom stock defies Trump
  • Kellyanne Conway unrepentant for Ivanka Trump plug
    Kellyanne Conway unrepentant for Ivanka Trump plug
  • Wikipedia bans citations of The Daily Mail
    Wikipedia bans citations of The Daily Mail

Newsletter

Sponsored by

Key market news. In your inbox.
Every morning.

Start your day right with the latest news driving global markets, from major stock movers and key economic headlines to important events on the calendar. Daily newsletter, Sunday through Friday.

Privacy PolicySource: CNN

About Netizen 24 Network

Check Also

Disney bails out European theme park, again

Disney bails out European theme park again with $2 billion by Ivana Kottasova @ivanakottasova February …

Choose A Format
Personality quiz
Trivia quiz
Poll
Story
List
Meme
Video
Audio
Image