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Home / Business / US stock futures benefit from hopes of interest rate cut, delay in Chinese tariffs By Reuters

US stock futures benefit from hopes of interest rate cut, delay in Chinese tariffs By Reuters



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© Reuters. Traders work on the New York NYSE floor

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By Amy Caren Daniel and Sruthi Shankar

(Reuters) – US stock index futures rose Friday in hopes of a cut in interest rates by The Federal Reserve was lifted by a sharp decline in domestic employment growth in May and moderate wage increases.

A report that the United States would give China more time to avoid a tariff increase contributed to the gains.

US. Employers created 75,000 new jobs last month, far less than the 1

85,000 jobs interviewed by Reuters, suggesting that the momentum of economic activity is spreading to the labor market.

"This is the kind of reading the pigeons will really need," said Mike Loewengart, vice president of investment strategy at E * Trade Financial, New York. "]" Even though the number has declined, we still create jobs , which supports the case that the economy is still expanding, so the Fed needs to go a really thin line. "

The Sign of Cooling in the EU The job market caused short-term interest rate futures traders to bet on a federal rate cut To increase the reserve in July and reduce it twice before the end of the year.

Hopes that the Fed could cushion the effects of escalating trading tensions have contributed to the clock's three-day gains and set the benchmark index on track brought to its first weekly profit since May 3.

9: 01 ET, were up 52 points or 0.2%, up 8 points or 0.28% and rose 30.25 points or 0.42%.

The Office of the US Trade Representative said that Washington had extended the deadline for implementing the increase of some Chinese imports from 1 to 15 June.

Investors will also be following talks between the United States and Mexico, one day after a Bloomberg report stating that President Donald Trump might postpone the tariffs he was threatening for Mexican goods, three major indices were higher.

Regarding stocks, Beyond Meat Inc's share in Premarket trading increased 26.1% after the producer of vegetable burgers and charcuterie had anticipated a doubling of its sales and a balanced EBITDA this year.

Caesar's Entertainment Corp. jumped 6% after the Wall Street Journal reported it was close to a deal with rival Eldorado Resorts Inc.

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