More promising prospects in the hope of a commercial breakthrough; Powell's speech in brief By Reuters

By Amy Caren Daniel

(Reuters) – The futures on the US stock index climbed on Wednesday in anticipation of a breakthrough in US-China trade talks at the upcoming G20 summit, as investors eagerly awaited the stock market's speech. Fed Chairman Jerome Powell on the trajectory of rising interest rates.

While President Donald Trump spoke harshly on the issue of trade tariffs ahead of a high-stakes meeting with Chinese President Xi Jinping later this week, White House economic adviser Larry Kudlow left open the possibility that the two countries reach a commercial agreement.

Kudlow's remarks helped Wall Street recover its losses earlier in Tuesday's session in order to achieve a positive result.

The shares of industrial heavyweights, a gauge of market opinion with regard to trade, have increased in pre-commercial trade. Boeing (NYSE 🙂 gained 1 percent and caterpillar (NYSE 🙂 0.4%.

Powell, who has been criticized by Trump in recent months for his interest rate hikes and other Fed policies, is due to speak before the Economic Club of New York's lunchtime luncheon at noon. AND.

His speech will be analyzed for comments on rate hikes next year, especially after Fed officials have warned of global growth prospects and markets have experienced volatility. about two months.

At 6:43 am, Dow e-minis () earned 90 points, or 0.36%. The S & P 500 e-minis () gained 8.5 points (0.32%) and the Nasdaq 100 e-minis () gained 29.5 points (0.44%).

Flea makers, who derive much of their income from China, have also won. Nvidia Corp (O :), Advanced Micro Devices Inc (O 🙂 and Analog Devices Inc (O 🙂 gained about 1%.

Salesforce.com Inc. (N 🙂 jumped 8.6% after the software maker easily surpassed analysts' estimates of expected quarterly earnings and expected 2020 earnings, while more and more companies are turning to cloud services.

A Commerce Department report at 8:30 am (Eastern Time) is expected to record gross domestic product at an annualized rate of 3.5% in its second estimate of third quarter GDP growth.

According to another report released at 10 am Eastern Standard Time, new home sales in the United States in October are expected to rise from 553,000 in September to 575,000.