Futures eke out gains after Fed holds rates steady
- U.S. stocks hit record highs on Thursday after President Donald Trump tweeted that Washington was “very close” to a trade deal with Beijing and on a report that U.S. trade negotiators had offered to cancel a new round of tariffs on Chinese goods.
The three main indexes opened lower but quickly gained ground after Trump’s statement, which comes just days before the tariffs kick in on Dec. 15. “What Trump is saying and what China is responding to would suggest that maybe we are more at a status quo level of a detente than at further deterioration in relationships,” said Willie Delwiche, investment strategist at Baird in Milwaukee, Wisconsin.
The record run in U.S. stocks recently has been buoyed by three interest rate cuts this year, a calmer tone on trade and better-than-feared corporate earnings. The S&P 500 indexHowever, investors are particularly sensitive about potential end-of-year weakness after the final month of 2018 was the worst December on Wall Street since the Great Depression.
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