US STOCKS-Futures jump on report of U.S., China nearing phase-one trade deal

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Rising futures: Dow 0.53%, S&P 500 0.45%, Nasdaq 0.60%

By Shreyashi Sanyal

December 4 (Reuters) – US stock index futures rose on Wednesday, putting Wall Street's leading indexes at risk for a series of three-day losses, following a report that the United States and China were rising. approaching the signing of the first phase & # 39; Trade agreement.

Washington and Beijing are almost reaching agreement on how many tariffs to reverse, Bloomberg said on Wednesday, a day after comments by President Donald Trump and Secretary of Commerce Wilbur Ross dwindled hopes for a possible deal. short term.

The comments pushed all three major stock indices from last week's highs, fueled by optimism that an interim agreement between the two countries was underway. The S&P 500 index is now about 2% of its record.

The move has also made investors cautious after the last month of 2018 was Wall Street's worst December since the Great Depression.

Tariff-exposed semiconductor companies attempted a comeback on Wednesday, with Micron Technology, Nvidia and Intel rising between 0.5% and 1.6% in pre-market negotiations.

Market participants also awaited the ADP National Employment report, often considered a precursor to the Department of Labor's broader non-farm payroll data, which is expected to show that 140,000 jobs were added in November, compared with 125,000 in October.

A reading of the ISM services PMI will also be released later in the day and is expected to be 54.5 in November, compared to 54.7 in October.

At 7:04 am ET, Dow e-minis rose 146 points, or 0.53%. The S&P 500 e-minis rose 14 points, or 0.45%, and the Nasdaq 100 e-minis rose 49.25 points, or 0.6%.

Among the shares, Google's parent company Alphabet rose 1% when Sundar Pichai took over as CEO after Larry Page and Sergey Brin were fired.

Johnson & Johnson gained 0.9% after declaring on Tuesday that recent tests showed Johnson's baby powder was free of asbestos. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta)

The story goes on



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