U.S. Stock Index Futures Bounce on Trump Tariff Tweet
Stocks rallied on Wednesday, with the Nasdaq Composite Index rising to the highest level since July.
(Bloomberg) -- U.S. stock index futures rose after President Donald Trump said on Twitter that an increase in tariffs on Chinese goods would be moved to Oct. 15 from Oct. 1.
S&P 500 Index futures expiring in December advanced as much as 0.6% by 8:31 a.m. in Tokyo. Contracts added 0.6% on the Nasdaq 100 and climbed 0.5% on the Dow Jones Industrial Average. “We have agreed, as a gesture of good will, to move the increased Tariffs on 250 Billion Dollars worth of goods (25% to 30%), from October 1st to October 15th,” Trump said on Twitter.
“It could add to the positive momentum that we’ve already got from the U.S. session,” said Nick Twidale, director and co-founder of X-Chainge in Sydney. “If it coincides with the negotiation teams from China and the U.S. meeting before Oct. 15, then it increases hope that the U.S. could delay tariff implementation even further.”
Stocks rallied on Wednesday, with the Nasdaq Composite Index rising to the highest level since July, as the rotation from momentum to value shares that began at the start of the week slowed.
--With assistance from Abhishek Vishnoi.
To contact the reporter on this story: Naoto Hosoda in Tokyo at nhosoda@bloomberg.net
To contact the editors responsible for this story: Lianting Tu at ltu4@bloomberg.net, Teo Chian Wei
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