Dow, S&P 500, Nasdaq Futures Waver Even As U.S.-China Trade Talks Progress

U.S. stock futures wavered as Wall Street digested progress on U.S.-China trade negotiations, a fresh legal ruling on President Trump’s tariffs, and braced for the release of the May inflation report, Amalya Dubrovsky reported for Yahoo Finance.

Stocks edged higher at one point this week, with the S&P 500 and Nasdaq now within striking distance of their all-time closing highs. I Photo: New York Stock Exchange Facebook

Futures tied to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500, and the tech-heavy Nasdaq 100 hovered just below baseline.

On Tuesday, representatives from the U.S. and China reached an agreement on a framework and implementation plan to ease trade tensions between the two countries.

“We have reached a framework to implement the Geneva consensus,” U.S. Commerce Secretary Howard Lutnick said. Nevertheless, the upbeat tone surrounding the meetings has helped lift market sentiment.

Stocks edged higher on Tuesday, with the S&P 500 and Nasdaq now within striking distance of their all-time closing highs.

The commerce secretary indicated that the deal should resolve issues between the two countries regarding rare earths and magnets. Representatives will now take the proposal to their respective leaders for approval.

When the two countries struck a temporary trade agreement in Geneva in May, stocks surged.

Since then, however, relations between the U.S. and China have deteriorated, as both sides accused each other of violating the deal. The latest plan to resolve trade disputes followed two days of renewed talks in London.