U.S. stock futures rose late Thursday on reports that President Donald Trump has agreed to a preliminary trade deal with China that would halt Sunday’s planned imposition of new tariff’s on Chinese made goods, and roll back some of the existing import duties.
For its part, China would increase its purchases of U.S. agricultural products and agree to other unspecified concessions, The Wall Street Journal reported.
Trump agreed after meeting with senior administration trade advisers Thursday, Bloomberg and the Journal reported, citing people familiar with the matter.
Dow Jones Industrial Average futures rose 0.38%, S&P 500 futures gained 0.34% and Nasdaq futures rose 0.32%.
In regular trading Thursday the S&P 500 and the Nasdaq composite closed at record highs on reports of progress in U.S. trade talks with China.
Trump tweeted earlier in the day about a possible deal. Read: Reported China Trade Deal Removes Big Overhang on Apple Stock: Analyst.