Wall Street higher after US-China trade deal assurance
US stock index futures rose for a fourth straight session on Tuesday as U.S.China officials reaffirmed their commitment to a Phase-1 trade deal, adding to market optimism from signs of progress in developing treatments and vaccines for COVID-19. The pledge was made in a telephone call, the first formal dialogue since early May between the two sides, and came amid growing concerns that the deal could be on shaky ground because of worsening relations.
The S&P 500 and Nasdaq logged new closing highs on Monday. The benchmark index surpassed its pre-pandemic high last week even as recent economic data pointed to a wobbly recovery from the virus-led downturn.
Later in the day, a survey from the Conference Board is expected to show U.S. consumer confidence improved slightly in August after falling more than expected in July amid a flare up in coronavirus cases.