Futures climb as U.S.-China tensions ease
The reports offered some relief to investors after a turbulent start to October as a result of escalating trade tensions, intensifying efforts to impeach President Donald Trump and signs of slowing economic growth.
On Tuesday, Fed Chair Jerome Powell flagged openness to further rate cuts, repeating that the central bank will act “as appropriate” amid an economy that he said was likely to continue to expand. Earnings for S&P 500 companies are forecast to fall nearly 3% from a year earlier, based on IBES data from Refinitiv.
Johnson & Johnson fell 2.2% after a Philadelphia jury said the company must pay $8 billion to a man over his claims that it failed to warn that young men using its antipsychotic drug Risperdal could grow breasts.
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