· U.S. stock index futures were slightly higher Thursday morning, as talks over a trade deal between the world’s two largest economies enter what could be the final stages.
At around 03:20 a.m. ET, Dow futures rose 17 points, indicating a positive open of more than 37 points. Futures on the S&P and Nasdaq were both marginally higher.
· New highs are ahead for the stock market, top J.P. Morgan strategist Marko Kolanovic told CNBC on Wednesday.
In fact, he said it’s possible the S&P 500 could hit his firm’s year-end price target of 3,000 by the end of May.
However, a couple of things would need to happen — such as a U.S.-China trade deal and a Brexit that is “not too disruptive” or is even pushed back, Kolanovic said on “Fast Money. ”
· European stocks traded lower Thursday morning as traders monitored ongoing U.S.-China trade talks.
The pan-European Stoxx 600 index traded 0.3 percent lower, with most sectors and major bourses in negative territory.
· Asian shares stepped back from eight-month highs on Thursday as investors took money off the table amid fresh concerns about the ongoing Sino-U.S. trade talks and their impact on the prospects for world growth.
MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.4 percent after five straight days of gains took it to the highest since late August. Losses were led by Australia and New Zealand while Hong Kong, Philippines and Indian markets were also in red.
Analysts pointed to investor fatigue and a lack of fresh headlines on the Sino-U.S. trade talks for Thursday’s sell-off while disappointing U.S. economic data this week also hung heavy on sentiment.
· Japan’s Nikkei edged up to a one-month high on Thursday as investors bought carmakers and other cyclical shares on growing hopes that a trade deal can be reached between Washington and Beijing.
The Nikkei share average ended 0.05 percent higher at 21,724.95 points, its highest closing level since March 5.
· China stocks ended at an over one-year high on Thursday, with the blue-chip index rising for a fourth straight week as investors cheered progress in trade talks and Beijing’s policy stimulus to bolster growth.
Chinese markets will be closed on Friday for a holiday.
The blue-chip CSI300 index rose 1.0 percent, to 4,062.23 points, while the Shanghai Composite Index climbed 0.9 percent to 3,246.57 points.
Reference: Reuters, CNBC
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