Wall Street stock futures were set for marked gains ahead at the open on trading on Monday as signs of an interest rate reform in China bolstered hopes that major economies would act to stave off the slowing economic effects of escalating global trade tensions…
The latest stimulus for the world’s second-largest economy follows news of potential German economic easing on Friday, which helped major indexes end the session more than 1% higher.
A bond market rally last weak sparked by fears of a slowdown following the inversion of the yield curve eased further on Monday with U.S. Treasury yields rising across the board, helping futures higher. “The yield curve is widening and people are starting to feel like its time to get back into stocks, especially after they’ve gotten cheaper in the past few weeks,” said Robert Pavlik, chief investment strategist and senior portfolio manager at SlateStone Wealth LLC in New York.
The so-called FAANG group – Facebook, Amazon, Apple, Netflix, and Google-parent Alphabet Inc – were up between 1.2% and 2.1%, with the iPhone maker leading the gains.
President Donald Trump said on Sunday that he had spoken with Apple Chief Executive Tim Cook about the impact of U.S. tariffs.
MacDailyNews Take: Inching back to the trillion-dollar mark?