On Wall Street overnight, the Dow Jones Industrial Average climbed 147.04 points to 26,145.99 — a three-day winning streak for the index. The S&P 500 ended higher by 0.5 percent to 2,904.18 while the Nasdaq Composite climbed by 0.8 percent to 8,013.71.
The gains, however, were tampered by enduring concerns around trade following a tweet from U.S. President Donald Trump.
Trump said on Thursday that Washington was “under no pressure to make a deal with China, they are under pressure to make a deal with us.” He added that the U.S. “will soon be taking in Billions in Tariffs & making products at home.”
Trump’s response came after reports on Wednesday said the U.S. was seeking to restart trade negotiations with China as the two economic powerhouses remain locked in conflict with no resolution in sight.
The U.S. dollar index, which tracks the greenback against a basket of currencies, was at 94.518 as of 6:56 a.m. HK/SIN, off its low from the previous session.
In the oil markets overnight, prices saw their largest single day percentage declines in almost a month. The global benchmark Brent crude futures tumbled 2 percent to settle at $78.18 per barrel while U.S. crude futures saw dropped by 2.5 percent to settle at $68.59 a barrel.
Here’s a look at the trading day ahead:
- China — Industrial production, fixed asset investment, retail sales at 10:00 a.m. HK/SIN
— Reuters contributed to this report.