US. Stock index futures rose sharply on Thursday morning after China had reportedly pledged that the two largest economies in the world had agreed to cancel additional tariffs introduced during their months-long trading war.
At around 3.30 pm CET, the Dow futures jumped 133 points to a positive open of more than 117 points. The futures on S & P and Nasdaq were both higher.
China said on Thursday that both sides would have to cancel some existing duties on each other's goods to reach a "Phase 1" deal, Reuters reported, citing a spokesman for the Ministry of Commerce. The report also states that the proportion of scrapped duties must be the same.
According to reports, a meeting between President Donald Trump and Chinese President Xi Jinping could be postponed to December, which delayed the opportunity for the two leaders to sign an interim agreement on trade agreements.
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Data Front: The latest weekly claims for unemployment benefits will be released around 8:30 am. Consumer credit for September will be published later in the meeting.
In corporate news, Discovery, Johnson Controls and Ralph Lauren are among the companies that report earnings.
Booking Holdings, Disney and Activision Holdings are among the companies to report their latest quarterly results after the market closes.